re: bhp broken 1218,fall to 1199/1201cfd,arthur,ge Smooth as silk did BHP surf to-day and within a whisker of 1199 by finishing at 1201.Mind you both geffa and jd predicted a finish @1200 and Arthur provided the appropriate chart late last week.Ipresume a few of us are hanging on to their puts so far .
Now before we all get too bigheaded with this moderate success in picking the direction of BHP since Thursday/Friday last week let me pour the cold water of reality on this scenario.
On a s/t basis it is unusual for BHP sp to fall more(conversely rise more) than 3/4 trading days in a row from any given sp and more so since to-morrow is expiry day for February options and the DOW may be due for an upside movement to-nite..
So be prepared for BHP to perhaps do the sideway crab shuffle to-morrow and hang around 1200 for a few more days,after which we may see it descend to 1275,possibly 1250 over 2/3 weeks.
In the remote chance that it drops savagely through 1200 hang on to your surfboard and a wild ride to 1275/1250 quick time.
Decisions,decisions,time to take a profit on the puts and run??.
Safe trading.
Cheers.
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