Tuesday, August 4, 2009

Bullish Sixpacks and Doctor Copper (Atkins)

OK, so the super low carb diet is working....13 pounds in about a month, but I still don't have those six pack abs, so we stay on the low carb for a few more weeks.

But speaking of Six Packs and Doctor Copper, we have reports from various Joe Six Pack Indicators around the country...JSP is being hurt emotionally by missing this rally and is ready to jump on it--reports from real people who are asking semi-pros---is it OK for me to jump on this rally.

The bullish percent index is reaching levels associated with highs.

So here is a strategy to think about...a real blow off top...enough to almost get XLF to hits its 38 Fib, it has struggled to get past the 23 Fib. Set some stink bids for puts....really low prices, that might get filled in a panic selloff (i.e. blowoff top on equities, panic sell off on puts.

1 comment:

  1. You have a good market blog.
    I'm heavily short CAD... Let's see what happens here, although USD longs are clutching at straws on Dollar Index and other charts.
    Bounce already!

    surfed on in via Evil Speculator


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