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.
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 ETF...so 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?
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 rhae
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 ETF...so I have to settle for long TLT.
ReplyDeleteAnyways, 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?
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.
ReplyDeleteAs 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
rhae
I was wondering what an Iron Condor was--
ReplyDeleteYeah, that tricky option stuff is too complicated, bird pictures are where it's at! hehe
ReplyDeleteI checked TOS and Etrade and cannot find any TBT to borrow, Ill check OptionsExpress, IB, and Morgan Stanley and if any sucess will publish.
ReplyDeleteUSO is a tough call, I have been ignoring energy and oil. One doesn't have to trade every market.
http://screencast.com/t/oyVN2Tl3g