Charts I Don’t Like

While the market continues to embark on a massive rally off last week lows, there are charts that still look weak. I have two of them here, and I think both will head lower in the short term.

3M  $MMM  reports earnings this week.  I am bidding some puts for a move lower into the $139 range and below.

$BIG lots.  I loved the stock at $26.  Now some 100% higher the analysts who hated the stock at $26 are loving it here.  I think we are going to see a nice pull back under $40.

$MMM weekly  $139 puts $1.07

$BIG $42.5 nov puts $.27


Known 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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