Thursday, May 28, 2009


HSBC Daily Chart

HSBC is showing a ascending triangle formation. If it can break to the upside, then maybe can go to 80s. I'm mentioning this because its CW is being traded at a very small premium. So, the reward can be great if it breaks to the upside. However, if the financials start to crash down again, then the loss will be know what I mean.

Disclosure: I'm long in HSBC-C5.

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