As expected in the last entry, LOW clsoed at 54.01. The intraday low was 53.68. However, the volumne was low. I closed my Jul 55 Put position at 2.00 opened a few days ago.
MSFT has been moving up a little bit in spite of declining overall market. If it breaks out from 27.5, it will signal a new attempt of bullish trend since it hit the bottom in March.
MSFT broke down a little bit from the two year uptrend line in March as seen in this weekly chart. It’s slowly forming a cup. Whether or not it can break out from the intermediate term downtrend remains to be seen in the comming weeks. MSFT has been lagging from its peers. However, with its over $50B in cash and gradually settled legal cases, plus M&A rumors such as SAP, we may see some big movement sson.
Space.com has an article on Moon-to-Mars Commission report.
Here’s the link to discuss how Prius transmission system works.
LOW broke out from the downtrend line at 54 last week, but it lost its momentum right at the resistence at 56, which was the previous attempt to break out. I was biased to short at 54 in the last comment on LOW. It would be stopped out at 54.5. It looks like that it is going to retest 54 level before it can go higher. Now, 54 has become the support. The major support is still at 52. I opened a position on LOW Jul 55 Put bought at 1.60. I plan to close it once it hits 54.