GGB ==> The Groundhog Day Winner

[DSteckler]

So, Mr. Steckler, maybe it'll rain maybe it won't, but what's your gut can ggb cover Mr.M's exuberance ?

We'll know in the fullness of time....<g>

[Olegeezer]

Thanks guys.... No on man can tell these things.

[Jim Smith]

GGB is circling the toilet as we speak....holding above the 30 day ema which has provided bedrock support in the past....my bet is down she goes given the overall market weakness and steel in particular.

[spikefader]

Yes Jim, not looking good considering the 'c' failure and triple toppy look about it. I'm out for a push and I'll be hunting this one lower; maybe a gap support or sumfin.

Longs might wanna hedge with these:

[DSteckler]

The March 22.5 puts are less risky. The 20's are selling at a 35% premium to fair value. The 22.50's are selling at an 18% premium to fair value.

[spikefader]

The March 22.5 puts are less risky. The 20's are selling at a 35% premium to fair value. The 22.50's are selling at an 18% premium to fair value.

Do you think open interest is something one should consider when buying options?

[DSteckler]

The OI trend is more important than the OI value. Obviously, though, you wouldn't want to try to buy/sell 100 contracts if OI is only 10. Given how quiet the GGB pit is, almost any size order is going to get whacked.

[mrmarket]

I laugh in the face of 4% drops...ha ha ha!

[DSteckler]

But would you laugh if you had 4% less meats and cheeses? <g>

[New-born baby]

GGB Puts

The March 22.5 puts are less risky. The 20's are selling at a 35% premium to fair value. The 22.50's are selling at an 18% premium to fair value.

GGB MAR $22.50 Put sells for $3.10. GGB closed today at $19.61. That's only .21 from being in the money . . . a pretty good deal, considering the chart.

BTW, GGB's 61.8% retrace would take 'er down to $15.98; chart shows the strongest support around $15.

[mrmarket]

GGB is circling the toilet as we speak....holding above the 30 day ema which has provided bedrock support in the past....my bet is down she goes given the overall market weakness and steel in particular.

dude..someone just lifted the seat on your toilet.

[Jim Smith]

I am glad you copied and pasted that whole post Mr M.....You see, I said the 30 day ema has been bedrock support for GGB.....and, it held again....I think GGB rallies further too......We have a buying panic occurring here.

[Jim Smith]

Ok Mr M....bought some GGB.....if my calculations are correct, this stock trades to $24 by early March.....

[Jim Smith]

Make that $25.....I like this bounce off the 30 day ema

[Jim Smith]

ok Mr M....I took down 1700 shares of GGB......You just might have something here....I am impressed with that strong bounce off the 30 day ema.