CSC follows through with a strong break of the wedge this morning and a strong enough move
to reach the minimum target based on the inverted head and shoulders pattern.
What was most impressive about this move was that it managed to develop in the midst of a hint of a bloodbath on wall street.
The unfortunate part is that I was away from the market today and did not get a slice of the action, but no worries, where there is one there is many!
I sincerely hope that some of you were able to get a slice of this move as it offered some great returns in the options markets.
If you did jump on board with the break of the neckline or the break out of the wedge then I would sell half your position right here and let the other half ride with a break even sell stop for the remaining half. Doing this will give you a risk free trade and this is what we strive for.
The stock still has potential to the upside as there really is no solid resistance until 50 1/4, so the second half of your position you keep should use this as your target.