Welcome back John. I was waiting for you to show up. I'm joining you and will be putting on my earnings announcement trading position. I think you know I have a sizeable core position that I've held for 2 years now. Do you carry any long term position or is this strictly a trading vehicle for you?
The probe down this morning on SODA to the 59.40 level gives us a close enough retest of yesterdays 59.20 low to turn my SODA trading model to a buy assuming we close up on the day Nasty 3 day correction, eh?
On July 30, SODA traded as high as 59.80 and closed at 58.40. The next day, July 31 when earnings were announced, we gapped up on the open to 64.61. Up until today the low trade since was 61.40. But with the low today at 59.20 we have filled that gap since July 31 in my book.
SODA usually does it's own thing but if we hold todays low going forward, I think we're in good shape..