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NYX chart

NYX is oversold, and seemingly inexpensive…

nyx

I did take out some protection. If NYX is going to bounce from its oversold position, then 67-69 maybe seen via the SMAs. The Calls will be closed out there. If NYX breaks down, I will close out the puts in the high 50s. Pending on which way NYX goes first (to support or resistance), I will double down on the Puts (at high 69s) or Calls (at high 50s)

This entry was posted on Wednesday, May 28th, 2008 at 1:22 am and is filed under stocks, trades. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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