hey red – thanks for sticking with us! i got down to the very end…margin call all week. todays upward motion brought me out of it and in addition, my csco call advanced for a nice little gain which enabled me to buy the fcx 70 put for tomorrow. if things work tomorrow, i'll have a great rebirth of enthusiasm for, well, EVERYTHING! heh love the charts and graphics, and i'm finding the commentary very useful too; i am glad to be able to read it. i am also short bac (and a little in the money!), so i have great hopes for the next wave down. now, when to sell… what is your post-thursday forcast for next week?
Sold my SPG calls (mostly broke even). In TZA calls.
$VIX closed above 24, by a hair. I think the $VIX goes back up to flirt with the 200 MA tomorrow, and closes the week there. This would provide minimal direction for market participants, and let their options die a slow death over the long weekend (markets are closed Monday for Presidents day).
I know how you feel,bailed on 50% mine around up a little from up alot What scared me is 3 day weekend coming and option week,They will try to squeeze the shorts Friday and Tuesday,and have them go long,looking at FAS 100+dow up day and its up 50 cents,you know something is going on, If I see anything a will let you know
Awesome work as usual Red. Appreciate you doing so much work for us.
That's interesting. The question is which way?
He was right about the breakout, but wrong about the range. Pretty impressive, still.
hey red – thanks for sticking with us! i got down to the very end…margin call all week. todays upward motion brought me out of it and in addition, my csco call advanced for a nice
little gain which enabled me to buy the fcx 70 put for tomorrow. if things work tomorrow, i'll have a great rebirth of
enthusiasm for, well, EVERYTHING! heh love the charts and graphics, and i'm finding the commentary very useful too; i am
glad to be able to read it.
i am also short bac (and a little in the money!), so i have great hopes for the next wave down. now, when to sell…
what is your post-thursday forcast for next week?
Sold my SPG calls (mostly broke even). In TZA calls.
$VIX closed above 24, by a hair. I think the $VIX goes back up to flirt with the 200 MA tomorrow, and closes the week there. This would provide minimal direction for market participants, and let their options die a slow death over the long weekend (markets are closed Monday for Presidents day).
RDL,
First time I've checked your blog. It's terrific. I will add it to my regular blog perusal. Thanks for your research and time.
Cheers,
Richard
I know how you feel,bailed on 50% mine around up a little from up alot
What scared me is 3 day weekend coming and option week,They will try to squeeze the shorts Friday and Tuesday,and have them go long,looking at FAS 100+dow up day and its up 50 cents,you know something is going on,
If I see anything a will let you know
a flat last 30 minutes means a 6-9 pt gap is coming
here's an update to a chart i posted earlier
you'll see a gap is how this dancing gets resolved
http://www.flickr.com/photos/47091634@N04/43497…
I'm inclined to agree with you Monica. Still holding… for now!
I will cover if we get to 1092