GM: Might retrace here
Updated
GM, being a high beta stock, really moves, when it does and I think we could see a pullback here before more upside, so it's a good idea to either sell calls against your longs, or simply taking profits and waiting to reenter longs lower, against support.
Good luck,
Ivan Labrie.
Good luck,
Ivan Labrie.
Note
Today's action invalidates the pullback thesis if we don't drop under today's range in the next session. Closing above resistance here is a good start for continuation to the upside. I bought back into my position, risking $2.1 per share. (no sl)
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