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SharePlanner (< 20)

Long Estee Lauder at $55.07

Recs

1

August 10, 2012 – Comments (1) | RELATED TICKERS: EL

Every time I trade Estee Lauder (EL) - which is more times than I'd like to admit, a bit of my manhood gets flushed down the tubes. Yet again, I find myself today crossing gender boundaries and getting sucked into another EL trade. 

Nonetheless, the chart is awesome, and therefore I think you should consider it as well with the double bottom short-term, stop below critical support, and a breakout of a 3-month channel. 

Here's the EL Setup

1 Comments – Post Your Own

#1) On August 10, 2012 at 10:02 PM, scotchlover (< 20) wrote:

I think you are optimistic. I think it's still in the 50 to 56 range channel that started mid-May.  I note that there are 10 times more PUT options for Aug 52.5 stike than there are CALL options for all strikes combined.  Same for September.  Seems a lot of folks think EL is going to drop.  I will wait until the earnings announcement, next week before doing anything.

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