/b buying $BIDU 145 weekly calls at 1.00 OVERSIZED chasing her a bit here. BIDU since open multi day buy signals passed but here she is already up a lot, but despite the gain am going to get an entry in. If she was to pull back would add another oversized stake. As mentioned multi day formulas passed after a strong retrasement and we have good news coming out of china economy. This stock has been beaten down due to china regulations in the sector and with the earnings coming on the 27th we should see exaggerated premiums into the event. Will most likely exit the position before the earnings later in the week using thew earnings premium boost to our favor. Again this is a chase of an entry and if she was to pull back would look to add to the entry at .80 area, if she was willing. Moving away from BIDU, also watching AAPL where friday I saw multi week direction on the verge of going negative, but multi day direction the smaller amount of time was the opposite on the verge of going positive. Its interesting to see so much strength on AAPL after critical levels were reached but am not ready to be bullish AAPL until we see this hold bullish for at least a day. All markets now wait for wendsday to see how things work out in the Euro zone, so as much as we may be on the verge of a market breakout that could last months , if things do not go well the opposite will be true as the dow and nasdaq SPY, ES, TF exeter are all at critical levels .
buying $BIDU 145 weekly calls at 1.00 OVERSIZED chasing her a bit here
Posted in General Trading