Several bullish (put) spreads for the week

Posted on May 31, 2011 by admin

I can’t tell how the market will go in the long term, but it appears the market is calm and bullish for this short week.  Also the major indexes all bounced above their support level, making these support levels even stronger.  Based on this analysis, I set up several put spreads, including BIDU (125/130), PCLN (485/490 and 495/500), NFLX (250/255), FFIV (105/110), SLW (34/35), LVS (39/40), and MCP (57.5/60).   Keep our fingers crossed.

About admin

Richard Cheng, M.D., Ph.D., is an avid Wall Street investor with 20+ years of investing experience. He is specially adept at observing the world to find the patterns and then design strategies to win his battle. Most, if not all, happenings in the world, follow certain patterns. These patterns may be complex, multi-factorial, not so intuitive at the first glance, or even may appear chaotic. However, even chaos has its own patterns. If you pay attention and be patient, you'll find them and then you will gain an upper hand in your battle. Using this blog space, he documents his trades and his thoughts as they happen. He uses this blog as a a notebook to help him better refine his strategies. Hopefully this will help you as well. Good luck in your trading.
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