Monday, June 20, 2016

Elliott Wave Stock and Option Signals - Went Short JEC and DNB

Jacobs Engineering Corp (JEC) chart


Jacobs Engineering Corp (JEC) has been on a monster rally the past few months.  The wave count and my custom indicators suggest a pullback here is warranted, and the put spread is profit target is desirable.  Wave ((c)) should take hold soon and drop the stock to the $48 area.  So I went short with the following trade:

Buy to open JEC Aug 19  47.5/52.5 put vertical at $1.58


Dun and Bradstreet Corp. (DNB) chart


Dun and Bradstreet Corp. (DNB) has also been on a monster rally the past few months.  However, my custom indicators fired off a short confirmation signal, and the wave count suggests a Minor degree 5 wave move has completed.  Wave (c) is probably about to take hold within what will probably be a wave ((w)) in a combination correction.  The wave (c) drop should pull the stock to around $118.75.  Here is the trade:

Buy to open DNB Aug 19  115/130 put vertical at $4.68


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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.

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