Trade idea

• Posted by Greg Harmon
• on December 7th, 2011

{+++}Going through charts this past weekend I found several that did not make the top 10. One was Cimarex Energy, $XEC, looking for a break of the inverted Head and Shoulders neckline. It confirmed the break yesterday but looks to offer abetter entry today. I will be looking to buy the January 70 Calls under $4.00 to eventually spread against the January 80 calls. Forget it or stop it on a move under 67. The expected move from the pattern is to at least 85. Chart below.

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