AMGN Update …

The possible AMGN expansion phase move I talked about on November 26th (click here) is going as good as can be expected, especially considering all of the market noise …

AMGN 195 Minute Chart

As you can see in the above chart, we have probably come to the top of the first thrust in this current expansion phase.  I think AMGN will likely push higher right into year-end or just before year-end so I am going to wait for a MA Spread signal before I sell my Jan 170 call options – these have doubled since I bought them and I suspect I will be out just before Christmas is the smaller time frame charts tell me that the potential theta burn has a greater chance to exceed any year-end window dressing.

Cheers … Leaf_West