Hi James, His omnipresent, even he is not, right? What could have prevented him to whisper to GROSS at PIMCO to sell some bonds/notes, actually Bill wanted to take some profits anyway. Hey this is a nice story you must agree(::) Welcome back, James. Good Trading
oil, oil. USO heading back down to low 50's. Seems can't get to close at the 55. Any thoughts here. Worth a short for the range trade once again, been going on forever.
Dear James, You are onto something here. I can not have so many balls in the air, but for brave souls, I have warned enough that XOI and CVX and their ilk could be stretched here. IE they can be sold. Period. Not thinking very clearly today. Too many things to watch, but you are welcome to take initiative on this. It's possibly very profitable step. 122.xxxx was a good short on XOI ( for example ). Good Trading Buddy.
I agree on the drift Boris. Im just trying to hit the tops in case it falls apart. I usually do well trading chop. They will want it up next week....theres a whole ocean of puts below 44.00 and to do that I think they have to let some air out now. But I was wrong once...LOL Best JC
James, can not disagree with hitting the tops. Which has made us pretty money lately, but as the holiday season is breathing heavy on us, somehow I got little scared of the lack of the liquidity, which, by the way, if market falters could really wack it hard. Yes, that makes two of us. Wrong sometimes, but right more so. Good Trading
I am beyond frustrated-- not much of a comment... there must be ten fundamental and ten technical reasons the market should at least correct some, so I have to conclude it is liquidity, Fed pumping. What do you think? will we ever get a break in the market that lasts more than one or two days?
James, I reflect on your comment about there being an ocean of puts below 44,, and I have thought about that also, since I own puts. What about the opposite, there being an ocean of calls above the market? the 20 day p/c ratio is .89, many calls purchased in the last month or two. It has not kept the market from going up more and more. In the November options expiration max pain was about 42 but it went out well over 44. Your thoughts?
Dear Kindspirited. I share your frustration. In some way I prefer the bearish side as well, but I can not trump my own objectivity. So a relistic, right now, look at the market produces this view. QQQQ high low range going into the DEC 12/13 period is 42.5/45.50. I happen to believe that Dec 13 will pdoduce high and then we will drift lower into this range. This suggests to me that if we were to get a pullback into Thursday/Friday we may want to exit the puts in anticipation of the top next Tuesday. If the opposite happens and we drift higher into the week-end, then we may expect the 12/13 to produce move lower.
We shell try and fintune this with the BUY-SELL-PRESSURE indicator. The problem with any indicators in this season is that markets get thin and indicators tend to lie. Good Trading Kindspirited.
14 comments:
No Bernanke today? Bought back 1/2 position of puts. Lots of Broker and internet problems today. Anyone else? Best trading JC
Hi James, His omnipresent, even he is not, right? What could have prevented him to whisper to GROSS at PIMCO to sell some bonds/notes, actually Bill wanted to take some profits anyway. Hey this is a nice
story you must agree(::)
Welcome back, James.
Good Trading
oil, oil. USO heading back down to low 50's. Seems can't get to close at the 55. Any thoughts here. Worth a short for the range trade once again, been going on forever.
Dear James,
You are onto something here.
I can not have so many balls in the air, but for brave souls, I have warned enough that XOI and CVX and their ilk could be stretched here. IE they can be sold. Period. Not thinking very clearly today. Too many things to watch, but you are welcome to take initiative on this. It's possibly very profitable step. 122.xxxx was a good short on XOI ( for example ).
Good Trading Buddy.
Fed dropped the float today. Is the almighty dollar twisting Bens arm? If so market should cool off. Best JC
RIght on Bernanke.
Good Trading James
Hi James, Are you napping yet!
THis market can put hungry lion to sleep.
Good Trading
Boris Im about asleep too....but I think its going down. P/C ratios complacent again. Best JC
No argument that the sentiment is not in favor of the market anymore
dear James.
But slow season could help the market drift
Good trading to you
I agree on the drift Boris. Im just trying to hit the tops in case it falls apart. I usually do well trading chop. They will want it up next week....theres a whole ocean of puts below 44.00 and to do that I think they have to let some air out now. But I was wrong once...LOL Best JC
James, can not disagree with hitting the tops. Which has made us pretty money lately, but as the holiday season is breathing heavy on us, somehow I got little scared of the lack of the liquidity, which, by the way, if market falters could really wack it hard.
Yes, that makes two of us.
Wrong sometimes, but right more so.
Good Trading
I am beyond frustrated-- not much of a comment... there must be ten fundamental and ten technical reasons the market should at least correct some, so I have to conclude it is liquidity, Fed pumping. What do you think? will we ever get a break in the market that lasts more than one or two days?
James, I reflect on your comment about there being an ocean of puts below 44,, and I have thought about that also, since I own puts. What about the opposite, there being an ocean of calls above the market? the 20 day p/c ratio is .89, many calls purchased in the last month or two. It has not kept the market from going up more and more. In the November options expiration max pain was about 42 but it went out well over 44. Your thoughts?
Dear Kindspirited.
I share your frustration. In some way I prefer the bearish side as well, but I can not trump my own objectivity. So a relistic, right now, look at the market produces this view.
QQQQ high low range going into the DEC 12/13 period is 42.5/45.50.
I happen to believe that Dec 13 will pdoduce high and then we will drift lower into this range. This suggests to me that if we were to get a pullback into Thursday/Friday we may want to exit the puts in anticipation of the top next Tuesday. If the opposite happens and we drift higher into the week-end, then we may expect the 12/13 to produce move lower.
We shell try and fintune this with the BUY-SELL-PRESSURE indicator. The problem with any indicators in this season is that markets get thin and indicators tend to lie.
Good Trading Kindspirited.
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