HL and MMR update 04-11

When we last looked at these two we projected they would top around 04-11: http://swingcycles.blogspot.com/2011/03/hl-and-mmr-03-26.html .  It appears they are topping after hitting our targets.  Now, if I have it right - they are set to decline for about 16-17 trading days into the first week of May.

I have set new targets in anticipation of this pullback.  If HL gives us an average decline I would expect a pullback to 8.50 area.  If it tests the declining trend line it could pull back to around 7.50 (that is almost a 25% decline from its high).  MMR also looks ready to top.   It appears it should pull back to 16.50 or 16.00 if it hits its trend line (a 15-20% decline).

Here are the charts:

GL traders.  Do your own analysis - but these are nice short possibilities (or puts).