Well, not setting stops has been a habit hard to break... FXP got smashed today...as did LVS puts...
Anytime FXP touches 80, it seems to go right back down... I thought about switching to USO... but having come off a 16 1/2 hour nightshift, i fell asleep... itʻs a good thing most of my $ was in FXP and not in options... i live too fight another day
I do not like how quick Tech bounced...i hope for it to red out come friday. basically because i want AAPL flat prior to Mr. Jobs keynote... if i miss here, then iʻll strictly stay ETFs for the year...
Tim was right on the other day about a huge bounce. As likely a number of pros who got out yesterday before this humangous bounce. Iʻm glad my Portfolio B still remains in wait.
But in the end my not taking these signals cost me... no doubt there are times ahead the market will be down. itʻs a matter of cashing that in.
Iʻm stuck in yet another bad position...Mr. Bee mentions that Bearish times are indeed ahead POST-EARNINGS!
all in all not a good day...and yet good days are ahead...
Congrats to TIM (sold b4 bounce), GIO (on GRMN), and somewhat to FLY (he seems to either get it right huge or miss bad, i.e. FXP. HOWEVER, he always wins...)
FED talks tomorrow. So EVERYONE is expecting a rate cut... if he misses Wall Stʻs expectations. Weʻre right back down again
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Get ready to buy puts on financials next week. Feds will prime them up this week, and C & MER's poor earnings will knock them down next week.
mytone,
youʻve been pretty on it as well... congrats on your moves. you are right, C & MER will be up... In fact all bank, mortgage, finance in general will have guns pointed at them.
Itʻs all about earnings then get out on the call side and use that profit to buy some puts for "free".
i havenʻt actually executed them, but have blogged them as paper trades (being that i chickened out)
Oh smack... I saw the bottom on yesterday's rally, and covered all my GRMN shorts and sold most of those puts, and other puts (like DRYS, unfortunately ... bleh), right before the end of the day rally too.
I also sold ALL MVIS yesterday. Dumb stock. I think Fly, or some huge investor, dumped. There was a big sell block, so I'm out. I'll be back in a few weeks before CES conference.
I have an analysis on a short for MA coming up in a few days. Basically, I'm looking for an entry point around 202. If the Fed does cut, I'm going to raise my entry point to the next retracement level.
TODAY IS THE MOST CRAZY ERRATIC DAY ever!! Look at the Dow intraday... fluctuating 80-100 points every hour.
(I'm shorting GRMN before the close.)
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