LG,
I just close my PUTs right at the open for a 1/16 gain. If I understand you correct, you feel the market will break to the upside on after WED/THU, when you said the the trendline will hold until WED/THU.
This is a tough market to pull the trigger in either direction, but do feel that we are moving up.
I also am expecting one mini-dip in this upswing, which could be only an intraday dip. Since I am playing options, I will wait for that mini-dip. I just dont think this upswing will be a smooth endeavor, but do feel that it will at least test 8650, and then test the 8800 range.
Heres my guess. we move up and test 8650 then the mini-dip then the stronger move up. I feel the NAZ needs to pullback just a little, even if it is intraday, for the stronger upswing to start. So maybe something like up to 8600-8650, then a small dip to 8500-8550(with the NAZ dipping a little also) then the stronger move up to 8700-8800.
In the past I often had the problem of holding onto my option positions too long. Was happy that I was able to pull the trigger right at the open, since now I would be losing 1/4, instead of gaining 1/16.
Seeya |
