Wednesday, March 14, 2012

PCLN Follow Up

I already had started a position in PCLN puts in the model options portfolio and this morning I added to that position.

PCLN is moving down, but close to some support right here.

 Here' PCLN looking toppy and the 1 of the reasons I started a position there.

 Here's the triangle I was watching yesterday, again no participation in yesterday's 3 p.m. rally. PCLN is at first support in the area so a bounce is certainly possible here.

 A closer view.

 PCLN 2 min, this is another reason I started the position here in Puts.

In the red box, note the sharp fall , usually a negative divergence would form like the former ones. It appears something triggered this move at 1:30 nearly on the dot

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