Stock Market Commentary by full-time trader and best selling author Bob Kudla AKA "BobLovesHawaii"
Tuesday, November 9, 2010
AEM - Completed a Multi year Cup and Saucer
AEM Broke out to new multi year highs this week, and now has slipped back below. This is very exciting for me as the depth of the cup is $38 points, a 40% increase over the current price. My strategy is to buy AEM on a break back to new highs. I will further limit my risk by buying calls (March expirations) my strike will be determined at the time.
Update - I will start selling call credit spreads on AEM while I wait on the move higher.