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Saturday, December 6, 2008

JPM seems to be comming out strong in December. As can see on this one minute chart JPM placed a double bottom pattern, which helped it run from 2:30 EST into the close of the day. Close up on the day for a gain of +2. Charts are for daytrade and scapling at this point in time. All cash or trade in and out days are here to stay. Companies are in the process of cutting and trim for the holidays. So, I would be careful in considering this a Holiday or Christmas rally.

Also, for some reason the options symbols have changed for JPM to JSA. So make sure you go to http://www.cboe.com/ for the current symbols and strike prices for your stock.