Yesterday, i alerted posters to start looking at BHP,CBA, RIO and XJO for entry THURSDAY or FRIDAY for a quick PUT PLAY.....IN AND OUT over a 2 to 5 day period.
Today we get the spike i wanted and will be looking for an entry point in the PUT PLAY.These sharp rises are the best, because it's got a much better chance that it will drop....within a 2 day period.Those who care to look watch like a HAWK today and decide when it reaches it highs.
I'd like to be specific, but i will be gone from the screen, from 11.45am till after 4pm....otherwise i could pick a better time to enter, as i would be watching the movements on MARKET DEPTH.
I have to go out at 11.45am and will be gone all day...spewing, i either enter the 1st hour or might do it 1st thing Friday morning.If i miss out and it opens lower Friday, i would have missed the best entry into the warrants, some time today.
They could have ONE MORE DAY left to rise and tomorrow would be an even better day to enter. So watch for entry sometime today or 1st thing FRIDAY morning...hopefully we get 1 more day up and tomorrow will be a great entry for a quick in and out PUT play.
All have GAPPED up today....so watch close. BHP at $35.11, best PUT warrants are BHPVZZ 54/54.5 cents,BHPVZX 24/24.5 cents,and BHPWOQ at 39/39.5 cents. For the XJO now at 4008, look to XJOVOR at 16/16.5 cents, XJOVOT 46/47 cents, XJOVOS at 25/25.5 cents all with September expire dates. This is again for a 2 to 5 day trade IN and OUT.
Lets look at CBA which had a nice jump up after the MMA ( Multiple moving averages ) have clustered from last week and moved up.This is the 3rd day up for CBA and i will be watching like a Hawk today,to see when the best time to enter the PUT play will be.
CBA now at $39.52 and the best PUT WARRANTS are CBAWMP at 25/26 cents, CBAWOT at 20/21 cents, CBAWZR at 32/32.5 cents and the longer dated Warrant CBAWOV at 23.5/24 cents...Even CBAWOU at 36/37 cents is safer, with a higher strike price. The upward trend line is around $39.80 to $40.10 give and take a few cents...also is has a lot of resistance at these levels...which formed form April to October last yr.
Pay attention to MARKET DEPTH and see when the SELLERS side starts to build and form a resistance level.I will be gone all day and can not see if we reach the high lunch time or when ever....i personally would like 1 more day slightly up and then enter FRIDAY morning....see how we go.
All the best to those who will look and enter. Make your decision as the best entry times and REMEMBER there are always risks that it could go against you.But it's rather safe if we enter when we have already had 3 to 4 days of sharp rises....like this week....so a drop early next week is a good bet.
Personally i want Friday to open slightly higher and then enter 1st thing in the morning.
(20min delay)