KLAC at 30, Hmmm........

[cheeks]

KLAC is obviously sitting on a major S/R level (30).

If the naz and the sox keep heading south, I do not think this stock can keeps it head above water for long.

However, it is way under the 200day ma.

It looks like a good swing on a bounce or a break, but I am curious what some of you who follow this stock closely(I do not) are thinking.

 

[canyonman00]

Originally posted by cheeks
KLAC is obviously sitting on a major S/R level (30).

If the naz and the sox keep heading south, I do not think this stock can keeps it head above water for long.

However, it is way under the 200day ma.

It looks like a good swing on a bounce or a break, but I am curious what some of you who follow this stock closely(I do not) are thinking.

Pretty good speculation here. Hopefully you played this one either as a purchase or an Oct 35 call. The 6.94% move today with another couple of points over the next few days could prove a profitable play. It looks as though it's going to be short though so I'd be looking at it as a good swing play.

I read your note this morning and took a quick look. As I am invested now, I decided to play a paper trade with this one. I'd have bought 20 October 35 calls at the open. I might even be willing to sell a few September 30 puts on Monday and see if it gets put to me in the short term.