Friday, June 19, 2009

Steveo calls the top

Well it is good to be humble, but tomorrow is a better day. I humbly respect the chance that I am wrong and this rigged market will blast to new highs, but I doubt it.


  1. Steve. I like the site. I am right with you on the trendline break on the SPY and your short call on TBT. Unfortunately Ameritrade will not allow me to short that I have to settle for long TLT.

    Anyways, I havent figured out how to post charts yet... look at the trendline on USO from mid April to May (similar to S&P)... it looks like it just got broken on some serious volume... any thoughts?

  2. sure steveo, I did not know you had a blog. But I am not very good at paying attention. I agree that times ahead look bleak (near term). I run scans then run the results of high potential movers thru my statical analysis program which looks at the future. Across most sectors, I do not see much for the bulls to cheer about over the next couple of weeks. That is about as far as I look out.

    As far as shorting SPY... I play SDS but as a derivative 2X of the SPX it might be a little risker. Or trade a 1/2 partial.
    Oilers... to me it was a toss up between DUG and ERY, I went with ERY today..
    wtg on calling the top... my itchy trigger finger picked June 5

  3. I was wondering what an Iron Condor was--

  4. Yeah, that tricky option stuff is too complicated, bird pictures are where it's at! hehe

  5. I checked TOS and Etrade and cannot find any TBT to borrow, Ill check OptionsExpress, IB, and Morgan Stanley and if any sucess will publish.

    USO is a tough call, I have been ignoring energy and oil. One doesn't have to trade every market.


Insightful and Useful Comment!