Wednesday, December 12, 2012

DOW on the Way DOWN

I entered in on a 31/29 Bear put Spread (20 contracts) net debit was .38 with 10 31 puts on DOW net debit of .43   I like the set up on this it has good Reward/Risk I potentially could make $2500 if it dropped below 30.  I have stop just above 31.50 in case this whip saws on me.  The set up is nice because it has a inverted hammer and a 200 day EMA and  its at price level that offers some resistance.  Everything right now is over bought and I think things should cool off the next week.

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