Using Options and Probability to Profit from Today's Market
Tuesday, February 24, 2009
Bullish on SFLY
After reporting blowout earnings a few weeks ago and rallying, SFLY has quietly consolidated into a nice bull flag pattern. It has retraced roughly 50% of the sharp advance it made and now after Tuesday's nice candle looks ready to bust higher thru 8. I want to see some nice volume as it gets over 8. This is a small cap that is a bit thin on the volume side so always use limit orders. I think it has a great shot at rallying into the 200 ema just under 10 where I would take profits.