February 9th, 2012
Published Daily

DIA – Diamonds (Last:104.48)

by Rick Ackerman on November 24, 2009 9:34 am GMT

Let’s use a 105.45 rally target to get short. December 105 puts (DIAXA) would be a decent buy for around 1.57 at that time if you want to use a limit order, but that’s just a guesstimate, and because there is risk that you could miss the trade, I’ll make the order catch-as-catch-can (as opposed to a Pick of the Day that could be executed on autopilot).  Officially, we’ll buy four Dec 105 puts if DIA rallies to 105.42.  A 105.61 stop-loss is suggested. _______ UPDATE: DIA went no higher than 104.98 before diving, so we did nothing on the order (which you should cancel).



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