EARNINGS: 21 Jan 2010 AMC (After Market Close)
TRADE SET UP: Resistance at 43.50-44.00. The 200 SMA on weekly at 44.04. Daily and weekly RSI approaching 70. Bearish rising wedge?
STRATEGY: Feb 43/42 put spread at 43.50-44.00 level
EXIT TARGET: previous resistance at 42.00
Good to know! AXP 44 = 200 sma--That's where it will start to go down,if it beats the street. 42.5 is already at the top of it's normal / high 2008 p/e, around 17 or so.
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