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Covered ES Shorts


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#1 redfoliage2

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Posted 22 December 2006 - 09:48 AM

We are likely to get a post-Christmas party if ES holds the LT support. :D

Edited by redfoliage2, 22 December 2006 - 09:51 AM.


#2 arbman

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Posted 22 December 2006 - 10:50 AM

I fully covered too, I am heading out for my son's party at the school, btw look at this...

Posted Image Posted Image

The dealers are up to something again, the reversal of this or any further decline will be sharp, me thinks. The overall P/C ratio is also quite elevated, but the equity P/C is not there for a long term bottom, or no guarantees of important new highs...

- kisa

Edited by kisacik, 22 December 2006 - 10:52 AM.


#3 arbman

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Posted 22 December 2006 - 04:18 PM

I just got back and I see NDX finally broke all the way, too bad I covered a bit too early the last shorts this morning... I think given 0.65 Equity P/C ratio and the elevated overall P/C, the dealer activity, a nice rebound is in order. RUT is showing relative strength also... The bonds sold off quite a bit, the yield curve is still flat, they are reacting to the higher inflation readings, but the commodities stuff sold off. The dollar is relatively stronger, btw the equity indices and the currency are still moving in the same direction. If we see enough strength in the currency due to these elevated rates, the stocks should still benefit a bit in January. I believe a slide of the USD here despite the elevated rates can cause a very steep sell off in the equities...