TM

I still watch TM on a daily basis. Like I mentioned in my post on the 23rd I would have bought the stock if it were not in the news so much right now. I missed a great 3.00 move to the high 74.00's. TM is now at 74.83.

This would have been a nice trade based just on the charts, but there are other things that I consider when calculating risk. One such thing is sentiment and the uncertainty with the news media's spin. The controversy and daily spin regarding TM appears to be a witch hunt and one has to keep in mind that the news can effect the stock on a dime. I will keep you posted if I see another interesting level for a TM trade.

-S

I do not own any Toyota and I have not purchased any TM since my original post earlier this month.  <Original post here> I rode the stock from the resistence level on the chart for 3 points and sold it for a nice little profit.  Back then I mentioned that the stock may hit it's head on the 66.00 - 67.00 level. I was looking at this level to see if it would break out or pull back. It pulled back, but I did not take a short trade.

Honestly, I am sitting this one out for now. Toyota is in the news too much and I don't like the risk involved with the uncertainty and the chart action. I am posting a new chart and you can see that Toyota has pierced below support again.

 
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Purchased a couple call options in my trading account when this stock hit its support level. Nice 300.00 trade for a two day swing. Very dangerous type of trade, but stops were put in to protect myself in case I was catching a falling knife.

A small screenshot below for rememberance.

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