3M Company (MMM) is in a Minor wave 4 correction that should have it's ((c)) wave unfold lower towards the 23% Fibonacci retracement level in the upcoming days. I got short the stock through a put vertical earlier this week but forgot to post the trade here. The stock has not done much since my trade anyway as my position is actually down just a little from when I entered:
Bought MMM put vertical June 3rd 157.5/170 for $4.02
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PLEASE NOTE: THIS IS AN ELLIOTT WAVE BLOG EXPRESSING AN OPINION AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. TRADE AT YOUR OWN RISK.