Thursday, February 10, 2011

UUP

As I wrote on Feb 7th (see old posts), if the dollar can break above 78.34 and hold, this would be a way for those that don't trade futures to take advantage of a short rally for a quickie. Gaps fill most of the time. Look at the open interest for March and June call options versus puts. The stop would be @ 22.10, so this is a fairly low risk trade. Remember this is not a roman candle, you'll have to be patient. Hope this helps

LONG @ 22.58

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