I am going to wait for entry into TXN until 465 on SOX is taken out, this SOX thingie can go and test 430 before it reverses so I have trailing entry position on the way up I wait for 45 minutes if 465 is taken out and I will in, the problem with me is that I will enter by selling 120 Oct puts on TXN at 81/2$ and buy the 140 calls for Aug for 81/2$, I will like to play this calender spread and would take advantage of earning move up, on this better for me to wait and enter at the worst possible time when it is really ugly ofcourse I will than if 430 is tested or TXN comes to 120$ will sell 100's and add 130 calls same spread, I rarely enter in the market I will always wait for my levels to be breached up or downside, this I have learnt over period of time, the market is too tricky a place to be timed. We try to place outside supports and ressitance and play with in them. That is it, it is simple and nice.
On Internets indexes I have sold yesterday these 660's calls naked on DOT for July, I am long Oct positions on individual stocks, I sell these naked calls to cover some monies spent on out of the money long calls for Octs, this is the third time I have traded July's against my Oct exposure, I do make a $ or few as DOT fluctuates but it is a great hedge agaisnt eroding values, since these Oct position on AOL Yhoo CMGI VRIO AMZN were entered at lows I am still making decent return, but at highs on DOTs it is fun to see good protion of your long premiums nicely hedged if we go through good correction as a result of rates concerned. My 2206 was broken towards the end until that LEVEL remains broken I will keep a shortish bias in my trading and out look towards marekt, I close my shorts above 2215, not before, I will increase my shorts below 10465... again a 45 minute test or 1325 whichever breaks first, I will long above 465 on SOX and 585 on DOT or 298 on IIX... |
