Tuesday, May 8, 2012
Tuesday Evening
The SPY printed a nice hammer and it emboldened me to take some calls.
AAPL also printed a hammer, but it was red rather than green or an open box. Is a red hammer fundamentally different from a green one? Do these indicate a bounce?
Tuesday Morning Thread
Gator's Chart of the Day: CHD |
CHD has a lofty P/E (19+) for a low tech company. With a PEG well over 2 this stock looks like it's ripe for a decent pullback. Institutions own 83% of the common and if they decide to take profits the stock may drop quickly. If you are long a tight trailing stop on at least some of your position seems in order.
Note: All stats quoted are from Finviz