Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (73343)	6/10/2006 8:35:45 AM
From: Real Man	Read Replies (1) of 94695

Well, we had our buy 2 weeks ago, which should have lasted into the end of July. The early breakdown of it indicates some weakness in the market. We could see a few false moves. Next week is options expiration, which often means TA bets are off. Normally, this would be a very good time to buy calls, since there are a lot of puts sitting on the market, and there is better than 80% chance that there will be a sharp advance next week. But since our thing is saying the low will occur after expiration, just like it did in May, got to be careful. Under abnormal market conditions big expirations such as June can be BK-ish. This market since May has been anything BUT normal. Nevertheless, I may consider buying a few calls due to the risk profile of this setup. It gives a pretty good probability for call holders, because if we DO move up, it will be a sharp move.

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