Hudson City Bancorp, Inc. (NASDAQ:HCBK)
Hi Mr. Brian,
I just read on a website which I chanced to recover involving Power Trends that I could write you re your opinion on Hudson City Bank. I recently sold August calls but am still holding October ones (at $15.00). Have you an expert opinion on the near term future of this bank stock? If so, I would really appreciate it if you could tell me what you think of it and why
Hudson City has been in an Uptrend since March 13th, quite a while without a pullback based on our historical averages. The stock is creeping toward its 200-day moving average which is now at $13.78 and will need to test and get above that in order to get to your $15 mark. You have some time since you are holding Oct options and I believe that earnings on 7/21 should provide a catalyst one way or the other. The 50-day moving average is also still trending higher which is also bullish. If it can get above these averages, that $15 level was support in December 2008 so that may be the next line of resistance. Keep that in mind when building your options strategy.
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