Wednesday, January 22, 2014

Time Warner Trade 1-22-14

Opened up another trade, this time with Time Warner (TWX).

I entered this trade on a bounce off recent support. Price was also showing a Bullish Harami Candle pattern, and today it confirmed with a massive push higher. Today shown a $1.21 push higher with volume confirming it. The buyers stepped in and made themselves known. Let's hope the buyers are in control for a couple days pushing the stock to my profit target. I have a bearish opinion on this stock, and that is why I am setting my price target at only 50% retracement. I think the sellers will step in around that time. Keeping a close eye on this one. Well, here it is...

(TWX) Feb 14 67.50 CALL / 5 Contracts / Swing Trade
Buy: 0.72
Target: 1.10


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