UPDATE 3:07pm EDT: Boy, its been one bumpy ride today:
I think I’ve seen this a map of this ride before out at Six Flags Magic Mountain – they call it the Terminator 🙂
Seriously now – I don’t see much reason of why this channel would be broken right now and as I said earlier – good chance that we’ll touch the 865 range before Golden Boys are done driving this thing higher.
The pattern would look best if we rode all the way up to that point in my not so humble opinion. Of course if we bust through that I would have to cash out and thank my Pegan Lord that I played it small (since trading against the trend can be painful quickly). But judging from the comments many of you guys are having a lot of fun playing this – good to know.
UPDATE 3:47pm EDT: Teeeheeeee – looks like I spoke too soon (as some intrepid rat minion pointed out). Boy, I can’t believe my puts are actually in the plus now – of course it helps that I was adding to my positions toward the top. Mmmmwwwwuhaahaaaaaahaaaaa!!!
Well, let’s not count our chicken before they’re hatched. That was a nice pump & dump scheme the Golden Boys had going today but it doesn’t mean they’re done yet. I would like us see drop through 845, which is where the diagonal intersects right now.