Sunday, November 23, 2008

SKF short

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.

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Jun 19 - Set up of the year in financials

I am heavily long calls in $C, $BAC, $JPM for late Jun, July, Aug.  Mad conviction here.