Time is working against the OXPS trade. It has sat around the buy level and has refused to move. At this point, I am calling it quits in this trade for just this reason. If we were right it would've already moved by now. But instead the thesis has not panned out and it doesn't seem like this trade is worth the risk anymore. Getting out here leaves us with a very minimal loss or even a slight gain actually. So, with that said, get out around 25.80 and move on.
NMX, a stock we've already profitably traded on this blog, is coming back down towards the bottom of its range. It has been strange how this stock has moved. First, it touches bottom. Then it flies to a high. Buyout rumors circulate and it pops through its range. The move didn't last. It has given back all of the gain and is now about 7 bucks off of where we bought it last time. At 118.50ish, this stock has very strong support that I believe will hold once again.
The technicals do not tell the whole story though. NMX could very well be bought in the future. Cramer was pounding the table to get NYX to buy it at about 145. It's just another reason to own this stock. You could get paid off just through playing the technicals or one of the big macs could come up and make an offer.
Either way, you win.
I'll be posting a bit more regularly now that exams are about over with.
CM
No comments:
Post a Comment