Market is rising sharply with the small caps gaining highest percentage. Banking stocks is not the leading sector today. But it had performed well in the last 4 days or so. I closed the short call on KRE 2 days ago as posted in the blog: https://smoothprofit.blogspot.com/2017/11/bought-back-kre-dec-1-58-call.html
Today, my BBT continued its rise along the lower support trend line. I closed the short Dec 15 $48 call to unlock its potiential for large gains. In its rapid sell-off in the last week, I had sold Dec 15 $50 call first then rolled down the call to $48 after Dec 15 $50 call premium made big drops.
The chart pattern of the stock looks interesting. At the entry point, the pattern was a narrower up-trending channel, as shown in the green dotted lines. During the sell-off, it changed to the wider and slowly-moving up-trending channel. I did not sell the stock since it did not close below my stop loss point.
Created with ProphetCharts®
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