|
David: I'm not buying calls long term!!! Forget that!! This is a short term trading opp. PERIOD. Sell your long positions and long out of the money calls. Wait till they top out over the next 3-4 weeks. I would be a put buyer right before the FMOC meeting. This rate hike will probably move the market down to test the lows and may even go slightly lower. Once we clear that senario out of the way, David, it's up we go again. The same indentical situation exists today as it did yesterday. There is too much money to sit on the sidelines. PERIOD. What's going to stop the upward movement of this market??? Interest rates only and I don't think Greenspan will raise again after May. I think that will be the imputus to rally the market to NEW HIGHS LATER THIS YEAR. Remember David, the economy is doing good. Hence the good companys should do well down the road. If we can watch stock trading ranges compared to the market at the time, we can and will make nice money, if we are nimble. Take some money and invest it over 4-5 plays to balance the potential bomb. You do good TA i've read your posts, you know what your doing!! Trust It. I will post my ideas as to what to buy, based on my own info and trading philosiphy. David there are a lot of good technicians on several threads. I can tell you they have had some losing trades as have we all. It's averaging up over the long haul so we show a profit at the end of the year. No One can beat this market, no one. We can probably beat a stock but not the market. This is the most confusing time i've seen in a long time. Be careful. Protect capital, it's volitile out there. Short term trade. I don't day trade, i could not sit there hour after hour for days on end. I have not given up my day job, don't give up yours either, Anyway I will let you know what I'm thinking as this unfolds. I hope we can time some things for some nice profits short term. Good trading Jerry |
