Rough sledding in the market this morning. Nothing unusual there though so get used to it if you want to trade. Bot (trader's short hand for bought) the $40 April calls this morning at the open for 45 cents when the stock opened at $38.56. Looking for a 5% gain would make our target price $40.49. I lowered our stop to below the support line at $37.49 on the close of the day. Of course shortly after getting into ODFL this morning the market started to sell off and the weak sisters holding ODFL followed suit. We however are bold as a lion, "The wicked flee when no man pursueth: but the righteous are bold as a lion." Proverbs 28:1 KJB. So we are sticking to our position at least until closing time if it looks to be closing below $37.49 tonight. The stock sold off a little bit down to $37.50 and has recovered to back above the resistance-now support line for the time being. Reader Cindy asked if I personally trade any of these. The answer is yes! In fact this morning I am trading ODFL. And as is often the case am underwater at the moment. ODFL is a strong stock though hitting new 52 week highs so it is reasonable to expect it to hold its own even on a dipsy doodle day. Stay tuned!
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