Glenn, Glenn,
I have spoken often here of the Bradley Siderograph. It has been very, very RIGHT since February at least. You may laugh, but right is still right. Anything that works. It has now generated a sell signal, having been in bullish mode since the middle of April.
As for the terrifying Marubozu of Yin, see:
csta.org
Tomorrow will be interesting... Or else utterly boring. Certainly not everyone will be buying index options; with volatilities still incredibly high, prices are INSANE.
Ya know, about two weeks ago I wanted to write some OEX Sep 1010 calls. In reality, didn't wanna go crazy, but as a joke suggested to my broker that we do 10,000 contracts. I mean, what risk was there, realistically? Even then, did anyone seriously believe the Dow would be at 9200 by the end of the third week of September? And I'd have raked in $6 million in premiums (and left for an extended vacation in Brazil, just in case things didn't work out). Yes, the premium was actually 6 1/8 at the time, incredible. But no, these poopy people at my brokerage WILL NOT let mere mortals (as opposed to institutions) write index options. Spoiled my fun.
Janice |
