Bricks of Mud

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As discouraging (and discouraged) as the prior post may have seemed, allow me to offer up – gasp – a short idea on a very heavily traded stock: Adobe. This stock had repeated gap action at the price of 388.88 (the red dashed line), and I have just acquired June $400 puts on this beast.

The long view illustrates what a spread we have between present price levels and long-term support.