Someone posted here a while back an interesting tidbit about GE and now I forgot what teh rule was. Ge apparently buys it's stock options on either the first or second Wednesday of each month and I was curious given GE's weakness until last week if that was it or if it is still coming. I don't recall if it was you, Les or Haim that first announced this tidbit of useful information but it could help with figuring out which chart to believe for teh DOW this week. My daily says we go down but my weekly says we could just be beginning to see a powerful move upwards.
Considering that GE moves the DOW and if there is more upside, there are some real bargains there, it could be prudent to forget the over priced NASDAQ stocks and catch some cheap and the rare "value" plays in this group. Boy did DD move fast or what?!?! I may have to stop posting this stuff.<g> The day after I wrote about SLB, it moved up strong, then I mention DD and it runs. Of course I wish I could take credit but since I was also watching DOW and didn't say anything except to one person and it moved 10%, I guess some of us are all watching the same stuff. I noticed LG and others posting about the same stocks I was also so I guess the charts are just all starting to talk to us at the same time. I have a few good possible short plays lined up but am not having as good of luck at finding good longs in case this keeps going. SOme have good chart patterns but the cycles are off, the others have good cycles but the chart patterns are no good. The shorts seem to be lining up better and that scares me since I don't like being in the majority. <g>
Any update on the GE thing would be appreciated. Have you noticed the schedule for the week after this one? PPI, CPI during triple witch expiration, full moon and then FOMC meeting. A straddle set up taking gains and re-establishing on the opposing whipsaws may be the best game in town. <ggg>
I noticed people talking about QCOM and FA. Imagine they are counting on patented technology and trading a a few hundred years earnings yet patents expire in 7 years. Yeah, like that makes sense. <ggg> I do agree though that FA still counts eventually, you just can't time trades with it. The FA tells you where it is going, then the TA says when. JMHO
My view, the money should start moving into the big boys of tech again, if it doesn't, then this is a fake out break of the wedge and it will return toot sweet. Once expiration is over, the disparity in the DOW versus the NASDAQ should resolve itself. Last I checked, all those puts were still open and they made a bundle on them. If they close them out this week, then that will change the picture a bit. Wish I had sold those 20K+ puts and been able to cover them back up a few days later for half cost. <gggggg>
Good Luck,
Lee |
