Jim,
>>> Which is it? The market can only go up, down, or stay even. Is anyone taking a stand one way or another? <<<
Im not taking a stand until after the FOMC meeting. As for me personally I really dont care since I am just playing my signals. Most of my PUTs are already closed out with strong profits, so I am
mainly in cash again, just waiting for another CLASS SIGNAL whether it is a CLASS BUY or CLASS SELL. As you know I try to target the initial move, and basicly only play INDEX OPTIONs. The initial move
commonly creates the most pofit, in light of the increased premiums in the options and the common strong initial move in the index.
Until I get my next CLASS SIGNAL, whether its a BUY or SELL, I will be sleeping, washing dishes, cooking some good food, etc. I suspect that I will get some sort of CLASS SIGNAL about 2-5 days after the FOMC meeting, since I expect a strong move in either direction.
Also, I will just be patient and wait for the bottom of this 9-month cycle and so far things are in line for the 9-month cycle bottom to occur on time around JULY 8, give or take a few days.
So, for me personally, I am not taking a stand right now.
seeya |
