Tuesday, January 4, 2011

UPDATE

I like put options on AA if you can get in before the close. The stock is over extended to the upside and the price action over the last 2 days has been very bearish. Bearish in that it looks like an exhaustion gap. Earnings are next Monday (January 10th) and I think it will sell off when the numbers come out. Place a stop a bit above today's high. If I'm right, we shouldn't go above that high.

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