Wednesday, December 19, 2007

Long Ford January 7 1/2 Calls

We purchased the Ford January 7 1/2 calls today for .20

As you can see from the chart there is no real heavy duty resistance until the 7.72 area and some very strong resistance in the 8.20 to 8.40 area.

The volume tool that is on this chart is simply one of the best as far as determining at what price or prices there was heavy turnover in the stock and thus support or resistance.

I do anticipate Ford to rally at least to the 8.20 level by the end of January. A tall task I know, but one that the stock is capable of accomplishing.

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