TSRA - Intraday Reversal on high volume
October 12th, 2009
I am not liking TSRA price/action this morning so I decided to close my position and sell my November $25 calls for a 17% profit. The stock reversed from a 52-week high and is currently trading down 1.5% on high volume. This is not a good sign. Sometimes it is better to protect profits at the very first signs of weakness. If INTC doesn’t report extraordinary earnings tomorrow, TSRA could very well tank. If that happens, a second buying opportunity might arise when TSRA retreats to the 10-week line. Look for institutional support before pulling the trigger however.
