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Thursday, February 19, 2009

Scalping With Options

JPM - Mar 09 JSAOD 20P

Looking at the Daily chart our range has been broken for now, a window as been opened and the old range was 28 to 24 per share price. There should be a restesting of the lows 20 and 18 per share price! Charts were also a cool waterfall on the 5 min and 15 min. Looking for some more downside, but round number are the stall points and with GS not help in the fast down market. We would have like quicker in and out trades with this option. However, a profit(s) is a profit.

1:15pm USD FOMC Member Lockhart Speaks - Comments helped the sell-off in the financials; whewe. Also, Bank of New York - did not like the fact of a cap on bonuses, haha. Clarity is no more for the financials?!