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8.19.13 Monday

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H&S Reversal Formation in Progress

This is one massive H&S reversal formation that could possibly lead this stock into a bloodbath.   I decided to enter put positions before close today as it was retesting that resistance level last three days.  Next target is at around $116 area which is the H&S reversal formation neckline.  H&S is not confirmed until we break below this neckline level so for now we are in the process of the possibility.  H&S measured move comes to about $95 and that’s about $25 drop!  But again H&S is not confirmed until we break below the neckline.

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8.21.13 Wednesday

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Make it Rain

Target price: $95ish if neckline broken.  Let’s see if we can get there.  Stay tuned.