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3 Month Breakout in BBBY

Home › Forums › Swing Trades › 3 Month Breakout in BBBY

  • This topic has 1 reply, 1 voice, and was last updated 12 years, 4 months ago by Steven Place.
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  • December 23, 2013 at 11:59 am #2522
    Steven Place
    Keymaster

    bbby

     

    I’ve been stopped out of this stock about 3 times looking for the breakout, but this (again) is a good entry point to the long side.

    The true breakout level is around 79 but I think a break above 78.60 will be good enough.

    For this trade I like the long Feb 80 calls for about 2.45.

    Stop is 75.89 and 1st target is above 81.

    Earnings is Jan 8th so I will spread/exit before then.

    January 8, 2014 at 3:22 pm #2523
    Steven Place
    Keymaster

    Going to bail on this at 2.70. Earnings are tomorrow and I don’t want that risk.

    Gain of .25 per contract… it’s a win but not a big one.

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