I think I am slowly metamorphing into a bear. MacMillan talks about putting it to someone? Mmm... better check that.
I am strictly on the sidelines now, all in cash except for some penny-anty calls on flyers. The Naz is at a p/e of around 200 instead of its historical 15-30. At 30% growth rates it would be 2007 before the Naz got to its historically high p/e. Even if it got whacked in half, it would still be 2004 before it got there. I still think broadband comm is the future, but there is technology, and there are stocks. I've had a discussion with someone on the more bullish side in PMs, and yes, there is a lot of baby bommer pre-retirement money on the sidelines, but this at best would stave off another 1929, but not another 1987 or even another 92-94. I believe there is some serious money to be made on the downside in the next few months/year, with the possible exception of election time.
So, what are good options strategies for the downside, other than the obvious buying puts or selling calls? |
