I think we will see a sharp pull back for a few days soon that will be enough to bear up everyone, then up she goes again. I am really not trying to find that one at the moment, but getting ready to buy whenever it happens, I would think within a week or so. If the pull back comes strong enough it can keep the indices in a range until FOMC. This is how much bearish you can get with this strength...
Qs up considerably (over 0.5%) and yet the IV is also rising. A lot of relative strength in the small caps since the 0.5% rate cut. I think the market expects a lot of liquidity in the months ahead once a small consolidation takes place in the next week or two or so, imho...
Most likely we are in a running correction...
Started by
arbman
, Oct 11 2007 12:34 PM
4 replies to this topic
#2
Cirrus
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Posted 11 October 2007 - 12:41 PM
We haven't had our traditional pull back before OPEX. That means we could see a 'scary' OPEX. I'm still holding ITM Jan puts for the RTH, IWM and QQQQ. I bought recently at what I thought were good prices but I'm in the red on all of 'em. I'm still holding on until we get a ST swoon that's scary. It's more insurance, really, and a play that energy and metals will outperform the market.
#3
da_cheif
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Posted 11 October 2007 - 12:49 PM
>We haven't had our traditional pull back before OPEX<
lol
#4
Cirrus
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Posted 11 October 2007 - 02:26 PM
Glad I have those options!
#5
arbman
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Posted 11 October 2007 - 02:54 PM
I was fully hedged and took a lot of profits earlier, I will buy back depending on how it goes. I think if it can pull back enough by Friday. This should be the extent of this pull back and a good rally into OPEX is still possible, but I doubt that the market will choose to go far before they can figure out the next FOMC...
