Options Oracle: 05/11/2012

I don’t expect the large gap to the downside to fill right away but I do see the market attempting to retrace at least half of the gap. This would bring us to the role-reversal support line as well as the 20-day moving average for the stock. The long shadows at the top of the most recent candles tells us the sellers are beginning to put pressure on the stock and the lower volume tells us that the buyers are starting to yield to that selling pressure.

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