insook--
oh, i dont think it is going to have much to do with what may really happen, at this point it is all about psychology. that, and the technicals just look terrible. i think it will be something outside that actually causes the loss, and i am looking for a top maybe sept4.
so, right now i have a small put position, and a large call position in the dow. the calls are profitable now, but i dont know for how much longer. i am waiting to pick up some more puts before i even play with MU again...it just doesnt interest me at this point. if it had gone down to 25, maybe, but at 30 it may take too long to make a definitive move.
i am kind of in a bad spot when it comes to this stuff because i need the volatility, and i am not getting it. we pay our salaries off of options trading, so i cant be in a position for longer than 6 weeks.
i wish MUs volatility would pick up. i would like for it to go higher so i can buy more puts.
anyway, thanks for the ORCL tip..i will look at it. to be honest i have never really played ORCL because i dont like, nor do i trust, larry ellison. anyone who puts his ego before his business is not someone in whose company i want to invest.
abby cohen says by EOY dow=9300. i dont really disagree, but i think we have a lot more to go on the downside before we reach real support and people stop selling into rallies.
good luck to all,
trey |
