Guessed It Right

guess

$GES had a strong move higher today, and was up over 10% in the middle of the session.  Why am I telling you this?  Earlier this week I penned a blog post entitled " Buying Calls Ahead of This Earnings Report".  http://www.optionmillionaires.com/2013/buying-calls-ahead-of-this-earnings-report/

The earnings report in question was GES.  I purchased the GES calls at $.80 the next day as I said I would in the blog post.  Today those options topped out at $2.05 and closed 109% above yesterday and Wednesdays close.  Barring a complete collapse of the equity market I think $GES is headed higher into the summer.    I will turn to September calls, but will wait until we get a pull back to around $30.  I like the chart, the inverted head and shoulders, as well as the strong break above the long term resistance trend line.

If I do enter the SEP calls I will post my trade in the chat room and/or forum.

ges2

 

 

Here is the chart I posted at the start of the week.

 

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Profile photo of uranium-pinto-beansKnown to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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