Will be selling AMAT, AMZN puts by days end. I would not hold anything overnight. Stocks up yesterday or Monday are down today.. I would take profits and not keep any position or swing trades in this market. I've been e-mailed about financial, semi-conductor, but I don't see a bottom as yet. People who are buying on dips will be selling at the first sign of trouble. You can get stuck in a panic sell. Holding puts for September,October and December. Out of NN, CMVT, REXI and all calls. I've been getting e-mail on the index puts/calls. Exact entry calls can't be made at this time because of the lag of at least 5 minutes to posting. I will do the best I can to update the data feed.
I'm amazed that the groups showing strength are the very beaten down like CYCH, IO, the drug stocks, and the street beaters: ABS, TYC, COST,NN, CMVT, MDT,ASC, DELL,LCOS... It looks like these will be the leaders. I expect the earnings plays for September/October to be the next leaders. |
