OIH is blasting off on a 1/4 rate cut.
So, what happen, today at least...
OIH puts... nope, it went green (tho facing resistance@ 197). the rate cut made the dollars cheaper (good for oil), but this may be the last cut in awhile (bad for oil, but good for my oil put)
V is going sideways of all things... it seemed like it was blasting off at the outset @ exactly 215pm
V may100calls... nope, too far out
V may65puts... nope I dunno... its good thing actually, this was just insurance since i still have the bulk of my portfolio here
In other words... worst scenerio in terms of options. But i realize this week will be full of "stuff" for the economy to digest. And the charts do say that oil (as reflected on the commods)
This week will still be of interest. But i have no real transactions to make at this point... they are all set...
update @ 305pm EST: strong sell off happening NOW...
update @ 316pm EST: Tim is kinda gloating about IWM
update @ 318pm EST: a lot of so-called pro traders dont know what to do... the market is eating up everyone somehow. some that have fallen have found a bottom for the day and are now reversing... ha. funny...
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