Today was some what choppy early on but the indexes managed to rally nicely into the close for decent gains. DECK closed today up almost 6%. Therefore I have no reason to sell yet. My stop loss point is still below the pivot low of $140.00.
Should DECK attempt to break past the high point of the handle it is currently forming of $155.00, I will add another $130.00 SEP Call option to my existing position. However, at that point I will look to exit in close below the pivot level on heavy volume especially if this happens on a break down in the markets.
For the mean time I am still looking for a follow through day in the indexes and confirmation of a new uptrend by healthy break outs in leading stocks.
Until then, good luck and good trading!
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