You can make your life or you can break it - its very important to choose the right options!! Disclaimer : You should do your own homework and you are responsible for your own decisions. This blog is means for me to share my viewpoint and for my record-keeping. Remember,Market operates on FEAR, HOPE & GREED!! Lessons from 2009- "Buy early when others are still negative, and sell early when other are still positive".
Monday, April 20, 2009
Heading South?
Today was good, locked in some profits on RTH puts and $NDX puts...If we open higher tomorrow on TXN news, it will be a good entry on the short side. We need to pull back below 50DEMAs on $spx and that will confirm the downward pressure for sure. Meantime, I am playing it safe on both sides, e.g., I bought long dated calls on SUN and FRO today... Good question - Why SUN and FRO? ....I believe that Oil and Nat. Gas is done going down... no matter how bad the weekly inventory reports come, the price is holding up. So, by mid-summer, I believe that money will definitely flow from Financials and RTH into Energy again. I also bought some GMXR in my IRA account. I am building energy positions in small increments, and if the stocks that I mentioned come in more, I will buy more to average down my entry point.
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