So, here i am watching all this stuff unfold and i am stuck on the sideline AGAIN!!!
The basic pattern for the last month or so is...
Friday: take profits friday and hedge big with shorts/puts.
Monday: sell puts with a small block to buy bear ETFs on any bounces.
Tues-Thursday: watch your Longs make $$$$.
So, what else is new?
Well, if Tuesday doesnt sell off, then dont expect anything changing from the pattern i just mentioned.
What i learned?
ALWAYS have something ready when this kind of action happens. Inevitably patience wins out... Look at my old posts and see where i benefitted from waiting with a planned exit. But when i just bought with the long view of holding (knowing the next bear crash could come any day... or so i thought like many.), i got pounded to bits.
Anyway, it looks like we will open green Tuesday... any close that stays green heavily ways in the Bulls favor.
One more thing... AAPL reports wednesday - its earnings could totally throw things outta whack... for bears or bulls... stay tuned.