Tuesday, February 25, 2014

Wednesday morning


Tuesday morning

GS Daily Chart
I posted last week that the Bollinger Bands would contract quickly and I was looking for a kiss of the 50 day sma.  It's working. The stochastic has moved into overbought territory but it is not turned down and I think it can stay overbought for 2 weeks or more. (Just look at Dec/Jan)  The close above 166.25 was significant to me. I'm long Mar170 calls and like my position.