ORCL
Just a reminder that ORCL has an earnings release coming out. Our July 12 trade is up nearly 12% which gives us a nice profit cushion but one never knows what sort of reaction we will see over the short term.
Members have 3 scenarios they can choose from depending on their time horizon and risk tolerance:
#1 You can choose to close out the trade and lock in a nice 12% gain for only being in the trade 2 months.
#2 One can sell 1/2 position and let it run knowing that stops are not honored if a stock gaps lower.
#3 or one can just sit tight holding the entire position knowing they have a 12% profit cushion to work with which would help cushion most overnight gaps lower.
If one chooses to hang on through earnings it is important to know where support is.
We see the $31 level as first area of support followed by the $29 level. The next major support levels would be the old lows around the $25 area which shouldn’t come into play.
ORCL is right at old highs which can either act as a lid after this long run off the May lows or stops will get triggered on those who are short causing ORCL to pop.
This is the type of situation we work hard to get members into where they have a nice hearty profit cushion to work with ahead of any news announcements. This can turn a winning trade into one of our monster trades.
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