$CMG Ready to Add a Quick 8%?

Sep 25

CMG has quite a few technical indications that it is getting ready to make a measured move to around $63 a share. Longer term $70 seems to be an area where this upcoming move may encounter quite a bit of resistance.

See the chart for notes. I am looking at this as being a “W” pattern and while the right side of the “W” is shallow, I think it qualifies “in spirit.” You can see the measured move I have put on the chart. And we have a series of higher lows and now a flat base to launch it’s next move from. If it fails here the stop should be below the most recent higher low, around 56.80.

I am long CMG.

Ideas, not investing / trading advice.

Oct 2

Trade closed manually

Not liking the action here on CMG. Back on the watchlist.

Oct 4

Note

CMG has not worked out as I had outlined above. I am not ready to give up on it yet. Lets see what happens next week.

Oct 28

Note

CMG is performing well ahead of earnings tomorrow. I am taking a bit of a gamble here and buying some December $62 calls. Key word here is "gamble." I rarely play earnings ahead of the announcement. (I do not ever by "lotto" options, just my thing.)

Oct 28

Note

Correction: I bought Jan 62 calls. Closest lowest implied volatility (IV)