Chart for Grupo Televisa SA (TV) Turns Bullish

I’ve written two other posts over the month about Grupo Telvisa (ticker: TV) seemed like a solid pick, but the chart didn’t match what I like to see. Now it does. It found support on its trend line of higher lows and in a surge (although on a little weaker volume) it moved back over its 50 day moving average. I sold two puts for July 30 (TVSF) while TV was trading at 29.49. My limit at 1.90 hit immediately after I put the order in. I received $368.50 after commissions.
I rarely sell ITM puts, but believe TV will be back over 30 within two months if not by the end of this week.
On 4/9, when I first mentioned TV it was trading at $31.04. On 4/12, I said it was dipping and TV closed at 30.69. TV bottomed (hopefully) on May 1^st and I placed my trade once it crossed the 50 moving average and looked like it would stay above to close the day, which it did.
The other option would have been to buy ITM calls on TV, but I believe my cushion is better with my move.

More on this topic (What's this?)

Prieur’s Readings (Jan 30, 2012) (Investment Postcards from Cape Town, 1/30/12)

Dollar Bull Trend NOT Over (Comments for thetechnicaltake, 1/13/12)

Your New Skin Will Be Ready in 30 Minutes (Wall Street Daily, 11/22/11)

Prieur’s Readings (Dec 30, 2011) (Investment Postcards from Cape Town, 12/30/11)

Read more on Grupo Televisa S.A., Abc Communications at Wikinvest

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