Tuesday, March 12, 2013

GOOG Charts

Since none of the longer term charts have changed (the reason I want to either add to or consider an additional GOOG put/short position on a little price strength), I'll just update the short term charts that are behind the call position in GOOG which is a weekly call that is meant to be very short term, I suspect it will be closed tomorrow in the morning.

 5 min chart saw some strengthening late in the day with a leading positive divergence

 This is the extent of the divergence and why the GOOG call/long is considered to be a VERY short term trade, it wouldn't be worth it to go long the equity as the trade is envisioned to be so short so the leverage of weekly options is used. While this 10 min chart may appear to be in line with price action (which is true on an intraday basis), the real situation is partially hidden from view. When zoomed out a bit...

The exact same timeframe is leading negative, the longer charts just get worse from here.

No comments: