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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Bearcatbob who wrote (140986)	10/13/2010 10:55:11 AM
From: Salt'n'Peppa	1 Recommendation Read Replies (2) of 206175

"This month is a good example of why selling OTM calls is IMO a good idea." So are you bearish going forward Bob? Selling naked (cash covered) calls is a bearish stance isn't it? How much higher can these markets go? We are now at two year highs, most things trading either at the top of a channel or breaking out. Gold, oil and stocks all pushing against the ceiling, with bonds at all time low yields. The US and Euro economies are still in shambles though. Unemployment is everywhere. Housing is in the toilet. Credit is still tight. It just doesn't seem right to me and it seems as if something has to give...or does it? Is the pendulum all the way to the bullish and ready to swing back, or is it only half way there? I will have to roll forward my S&P500 short if that market doesn't correct by 2.5% before the close on Friday. It is a very small position, currently underwater by just $700, but it may mark my first options trading loss since I started this game. The 16OCT options cycle has been very, very good to us! S&P

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