SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Tech Stock Options
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Patrick Slevin who wrote (44718)6/4/1998 6:37:00 AM
From: donald sew  Read Replies (1) of 58727
 
Patrick,

>>>>I don't think you want to play the bounce...for what it's worth.
The only way to play this is for a selldown. The long side is very risky, I think. <<<<

You made a very good point. Normally, my rule of thumb is not to short an up market and not to go long in a down market. The key is identifying the trend. In a range trading trend one can go either way; however there are an increasing number of signs showing that we could break the trading range to the downside, although still needs confirmation.

In light of the obvious weakness, I went long yesterday with OEX CALLS at the close knowing that I have my PUT spread forming a strangle of sort. I am not sure if I would have gone long if I did not have my PUTS in place, just in case.

The overall market is a CLASS BUY to obtain at the low for today. If the market breaks out right from the open I would not suggest chasing it. I feel that there is still a chance that the market could test the 8750 support area intraday as it did last week, then pop from there. Any pop probably will be short-lived.

I do not plan on holding onto my calls for too long, but will still keep my put spread since it is increasing in value the longer I hold onto them as long as the OEX stays below/near the buy-in strikeprice of 535.

Seeya
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News