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Momentum Trading with RaginCajun

RaginCajun
Joined Jan 27, 2008
7,405 Blog Posts

POT: Evening Star

RaginCajun Mon Apr 14, 2008 9:42pm EST 1 Comment

[[POT]] has been on an unbelievable run, one that has frustrated many. I initially called for the death of the stock today, but because the company reports April 24th, the stock may have a little life left in it.

Reasoning behind my call: The chart looks to be forming an evening doji star, [opens higher, trades in a small range, then closes at its open (Doji)] that’s exactly what happened today. This formation is considered bearish, but with earnings right around the corner, anything is possible.

pot-1.gif

I will be looking to take quick profits on my puts. I do not want to be short ahead of earnings.

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One comment

  1. Gregory
    Gregory
    April 15, 2008 at 4:37 am

    Good to see you changed your time horizon on that one.

    Once it breaks 175ish it will be a nice ride down

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