I was thinking about buying some put options on VISN today, it
may not go directly to the gap at 18 1/2, but may retrace 1/2 or
more of the big day Fri. back to about 20-21 over the next few days
or week. OSIP is another one I was looking to buy puts on
(another double top at $52 from Dec.), but want to see if the AMGN
beat brings it back up a couple points first. I think the
biotechs are overbought and ready for a pullback soon, maybe after
Novartis-NVS earnings Fri., probably a beat.
Posted by dylan398 on 28th of Jul 2008 at 09:18 am
bob,
u may be correct, I didn't notice that volume was on
earnings...and it does have a 93PE....but becareful some of these
suckers run for awhile before they become excellent shorts
Thanks Dylan. I will wait for confirmation.
That's one of my and possibly a lot of our big drawbacks is jumping
the gun too quick, trying to catch a top or bottom, not being
patient enough.
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VISN
nice charts
Posted by bob52 on 28th of Jul 2008 at 09:00 am
I was thinking about buying some put options on VISN today, it may not go directly to the gap at 18 1/2, but may retrace 1/2 or more of the big day Fri. back to about 20-21 over the next few days or week. OSIP is another one I was looking to buy puts on (another double top at $52 from Dec.), but want to see if the AMGN beat brings it back up a couple points first. I think the biotechs are overbought and ready for a pullback soon, maybe after Novartis-NVS earnings Fri., probably a beat.
VISN
Posted by dylan398 on 28th of Jul 2008 at 09:18 am
bob,
u may be correct, I didn't notice that volume was on earnings...and it does have a 93PE....but becareful some of these suckers run for awhile before they become excellent shorts
VISN
Posted by bob52 on 28th of Jul 2008 at 09:26 am
Thanks Dylan. I will wait for confirmation. That's one of my and possibly a lot of our big drawbacks is jumping the gun too quick, trying to catch a top or bottom, not being patient enough.