Well, the DJI isnt dropping off a precipice... but its going into this daily drop thing. a few hundred here, a few hundred there. NOT 700 or a 1000. All this talk of the DJI going to 7000 this year and 4000 next year is FUNDAMENTALLY right. Whether 4000 happens, well i would think thats something for next year.
Ok the FLY is adamant that HK must die. I had that thing profitable on calls last week, but my dumminess if there is such a word failed to set a stop and i lost a profit. BUT believe me when i said i am glad i took the loss. No sense crying over that... so, i went ALL IN on one account with DUG (with the few Pesos i have left in that one trading account).
I have a trip planned in 2009 (ticket prices are only now dropping) I can only wish oil crashed to the 40s, as you see the airlines are in the green today. But knowing how Airlines work, they will start charging for carry on luggage too. The question is whether OPEC will put up with that.
Thus my portfolio includes:
DUG calls: if oil gets <60... there goes the support.
WYNN puts: (Mr. Wynn is a liar), i finally got this green
YHOO puts: (MSFT wont buy Yahoo is $5, Mr. Yang is begging.)
NOC puts: remember, democrats use Defense money elsewhere
BYD puts: worthless
MSFT put: an old put, Nov 15 too short a window.
PCX call: a leftover from the pre-election
AUY: my weak hedge
VISN: why did i bother keeping 2 shares?
YHOO call (a very old call)
When will we go up again? Thats a question that no one knows. Maybe at the earliest right after Turkey Day.
I am off to do a different kind of campaign...