14 replies to this topic

[ogm]

Exited GS 190 calls for a double, keeping LEH 60/65s -- we hit SPX 1465.

Watch $XBD 227 for leadership.

Nice. I'm selling a few calls here on some of my financials. Just in case we dump. Time is on my side here.

I think brokers are weaker then banks here. Just fundamentaly. But they are volatile, good premiums on those GS calls. Congratulations on good trade.

[beta]

Exited GS 190 calls for a double, keeping LEH 60/65s -- we hit SPX 1465.

Watch $XBD 227 for leadership.

Nice. I'm selling a few calls here on some of my financials. Just in case we dump. Time is on my side here.

I think brokers are weaker then banks here. Just fundamentaly. But they are volatile, good premiums on those GS calls. Congratulations on good trade.

Thanks, OGM -- you, too. I think we picked the right spot (XBD).

Plan to pick up the GS 190's again a little cheaper tomorrow am, this one tends to lead and then let the others catch up. Still looking for GS 200-205 as ultimate bounce target.

[JAP]

How much of the volume was buying versus short squeezing?

[beta]

How much of the volume was buying versus short squeezing?

Dunno, but doesnt matter (if you're asking me).

Volume is volume, and short-covering rallies are sustainable.

I do think it's interesting that most of the upside fuel was in large-caps which trade options, which makes me think alot of this was hedged buying vs. one-directional buying.

XLF opened Friday at 33.2, now its trading at 33.26

If we close around here, I think it will be a significant event, considering the volume on Friday and today.

Friday volume in XLF was simply astounding.

Good call on XLF ! -- I think it moves higher to 34-35, but would bet there is a lower retest ahead.

I dont like BAC's chart here, long-term FWIW, though short-term it could rally back up to 50-51.

Good trading.

Edited by beta, 06 August 2007 - 08:39 PM.

[spielchekr]

It recovered the .618 above the .618, but... that divergence