Sunday, November 23, 2008
Friday took a stab via Jan puts. Probably the correct play wouldve been Dec but I'm not a big fan of front end options.
Stoch cross nearing, parabolic move up showed a crack, MACD parabolic, signs of bond market easing.
Then if things look right within a week or two will jump back in with some longer term calls if we see this in the low 100's or lower.
On another note, the positions and holding times taken have been getting extremely short. I sometimes unload options positions within the same day if there is a large favorable move. Until the volume slows down, take your profits and run.
Very bearish now and looking for a retest of lows in 2-3 weeks. I have puts in SPY, AAPL, GOOS, and GLD. Calls in RIG every major dro...
I am liking the set up for XLE a lot now and XBI I am hoping for some settling so I can board the train. Maybe within 1-2 weeks? Missed ...
Didn't make any changes Fri except close the GLD short as the miners + silver started showing strength and an oversold signal on the 2 h...