Edited by ogm, 31 October 2008 - 01:23 PM.
Lightened up just a little. Expecting a pullback.
Started by
ogm
, Oct 31 2008 01:21 PM
3 replies to this topic
#1
ogm
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Posted 31 October 2008 - 01:21 PM
Its Friday we rallied almost 1500 points off the low this week. Volatility is still at 58.
MCO is looking a bit overbought for the ST.
Even though I still think we're in an IT uptrend, the rally will likely be very choppy and no reason to chase anything to the upside.
If I had to take a wild guess, we'll have about 40 point pullback on SPX over the next few days. Timing unknown.
Short a bit AAPL, KSS and long a bit SDS and TWM just for giggles. Still plenty long.
New long idea CBST.. made a new 52 week high today. Looks very good. Breaking out from a big base.
#2
diogenes227
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Posted 31 October 2008 - 02:36 PM
Short a bit AAPL, KSS and long a bit SDS and TWM just for giggles. Still plenty long.
Speaking of giggles. How about LVS, WYNN, and/or MGM for short scalps as market pulls back?
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
#3
thespookyone
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Posted 01 November 2008 - 11:04 AM
Nice play, OGM. A move back toward the zero line is HIGHLY probable here.
#4
diogenes227
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Posted 03 November 2008 - 03:54 PM
Short a bit AAPL, KSS and long a bit SDS and TWM just for giggles. Still plenty long.
Speaking of giggles. How about LVS, WYNN, and/or MGM for short scalps as market pulls back?
Covering my giggles.
http://stockcharts.c...1916&r=6649.png
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
