Earlier today I’ve decided to close all of my remaining call-positions @ 25.45. This was about 3-months position trading since 20.49, with plenty of excitement as we saw that huge spike on 1/10/2017, which was almost 7% gain in 1 day! Several trading-days after that, I’ve closed out 1/2 of my calls to conserve the gain before the ER. I’ve held 1/2 of my remaining call-positions through the ER, and that turned out to be a good call as the stock soared again with positive ER reaction from the investors/traders.
Since then we’ve been just fizzling around last few weeks. As I analyze the stock today, I’ve come to a conclusion that the stock is in overbought sentiment while the nature of the trend is bullish. It means, it could grind higher but the odds are catching up against the bulls for the short-term correction or pullback. If we see a pullback to about 23-24ish, I will be buying that dip as I am still bullish on this stock in the long-term. I’ve been trading this since late-2014 with all-time-high target, so I will be continuing to trade this to the upside buying the dip on pullbacks/corrections.
For now, I am completely out of BSX and will be looking to re-enter.