It's about one o'clock here on the East Coast and I'm a tad addled.
I re-read my post and I'm quite sure I rambled....only because I have a lot of respect for the audience and I'm not quite certain what is a given and what is not a given. Again, a reference to "one-on-one" being superior to a monologue.
No, I do not trade based on Premium, I try to 'divine' short term direction based on the short term movement in Premium. PREM is only a clue as to whether or not a sharp move in the market, over a very short period, is a valid reason to make a decision to close a position...that's all. If, for example, I decided before the open that I should go long OEX at (what's tomorrow...Thursday....the pattern tomorrow should be similar to last Tuesday, Nov 25th, so)....I would plan on a major intraday turn at noon EST with an eye toward a reversal at 3 EST.
Now. My projected plan then, would be to go long around 12 EST and be cautious after the bond close. So that's the plan. If the PREM fights me tooth and nail on this, I most certainly have a bad plan, Nes Pa?
Sorry Electric....I'm bushed. I gotta turn in. |
