My earlier posts talked about how every Tom, Dick and Harry on the street was anticipating a correction last week. But then did you watch CNBC? All of their shows turned bullish late last week, e.g., in addition to the Cramer snippet in my earlier post, the options action traders saw massive call buying in COP and put buying in $VIX (thanks for Scott Nations for confirming that).
Now you see, the blabbering that goes on CNBC can really get you SCREWED... Ignore those SOBs on CNBC... they are losers and they'll soon make you one if you hear their opinion and act on it - not that I didn't knew this earlier, but just reinforcing my beliefs! Bloomberg is relatively better, only relatively though!!
I made some good profits today by sticking to my gut and analysis! Sold half of my puts, only to reload on any bounce that we may get tomorrow or day after tomorrow.
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