Sunday, April 25, 2010

LUK pulls back to previous resistance

Taking a look at LUK, you can see that it is pulling back to previous resistance which seems to be acting as support. I am not trying to front run these things and full disclosure,I own the jun 30 calls which I entered @ .30 as a starter position in case it pulled back to previous resistance, which it has and looks to have made it new support via a bottoming tale hammer. Now I am looking to add here @ .15 to 20 to lower my cost. I had A stop @ .05 which I will move up if the position starts to work.

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