Great gap today. A Lot of traders are in bullish from recent days analysis. If you're looking for a stock with decent bullish edge, with a pull back tomorrow ~ this one looks nice.
I really would not mind owning shares at $21 for the long haul. Just doing another one.. ;-)
Yes, this is a fantastic play although not much in terms of premium so have to play larger quantity. I will figure out what makes sense on Wed to play it. But, I agree that the bullish stance is there now, but it can change tomorrow with earnings. Also when is Yellen speaking about rates? So, have to consider these two 'zingers' that might affect this trade.
Reallifetrading
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@kenny1924, Earnings has already occurred on MU. I'm not really concerned about rates. Everyone knows it's going to happen and I'm pretty sure it's in March.
kenny1924
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@Reallifetrading, yes, I understand the MU earnings are done with the gap formation, but earnings of lots of companies in tech world, semiconductor world can affect it. For example if the inventory of technology shows a build-up it will take all of the tech makers down quickly. And, we already saw WMT, TGT and others take a hit, although AMZN is zooming forward since it is quite diversified.
Reallifetrading
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@kenny1924, Doesn't bother me. I wouldn't mind owning shares. :-) Buy low, sell high. =- )