Can you really see anything your really want to own?
Sox has been up 6 days in a row which helps and
Transports actually reversed course today. I don't
know how fuel prices are helping, considering they will
go up more especially if they back off on the ethanol mandates in
gas. It looks to me like classic rotation this
week. The Rut still has not broke the
810 ish trendline. I think that this market is more
of a case of lack of sellers then anything. Almost
90 percent of the calls I make on business...
nobody answers.. everyone is on vacation.
Anyway , puts are cheap. Go long the
market and buy protection. Depending on the size of
your account... you can sell some SPX 1455/1465
Sept calls for around 1.65 and buy
some SPY Sept put spreads 140/135 are
about 1.44 Just exit your longs and keep
your puts if the market reverses.
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Dangerous divergences developing
Posted by zach06 on 10th of Aug 2012 at 08:52 pm
Can you really see anything your really want to own? Sox has been up 6 days in a row which helps and Transports actually reversed course today. I don't know how fuel prices are helping, considering they will go up more especially if they back off on the ethanol mandates in gas. It looks to me like classic rotation this week. The Rut still has not broke the 810 ish trendline. I think that this market is more of a case of lack of sellers then anything. Almost 90 percent of the calls I make on business... nobody answers.. everyone is on vacation. Anyway , puts are cheap. Go long the market and buy protection. Depending on the size of your account... you can sell some SPX 1455/1465 Sept calls for around 1.65 and buy some SPY Sept put spreads 140/135 are about 1.44 Just exit your longs and keep your puts if the market reverses.