Why DIA? Because there is a large amount of energy stocks in the S&P, though it also has a bunch of Financials as well. But DIA... to be honest, it provides the clearest of all things market wise for my limited knowledge. someone out there correct me... I dont like QQQQ puts or QID because of strength from AAPL. Nor do i like IWM, too volatile for me.
The technical DJI graph i posted a few days back still says we continue in this downward channel...SEE "OIL AND $INDU" (6/26/08)... That being said, I am still waiting for a bounce, which i guess will happen today.
There was a report regarding high unemployment may lead to the FED cutting rates yet again... which of course adds to the Oil rally (again).
So I have focused my attention on the following with 1030am EST in mind:
USO calls, RDC calls, HK calls, PCLN puts, DIA puts, GG calls, RIMM puts