Between close of SPC at 1298 and SP99H after 15 minutes a big move on NDX and SP99H has happenned. Anyone who is short is seeing on Globex plus minus few points but someone is going to get it on the chin if this does not drop by full limit until opening. This time as the market opens so would be the move up on NDX which looks apparently down but from the close it is quite steeply up, DELL may be up so owuld be INTC and so would be MU. Most of the short positions would be wiped out as 1330 may be hit in a frenzy of short covering but I would certainly take a contarary position and establish that nest of puts at new highs, that is how I will lock in the move down on my side, I will also take out my heavy premiums and replace them by out of money calls on set back but it is now requred a rethink of strategy only BKX like sectors and beaten dwon Tech and DDX should have a different approach, we would like that 1290 to be tested several times even a break for a false break.
Now DOW 10,000 may be printed or not we can claim moral victory that we did the shorts in.. and truly in.. This is the best I can say - put up or shut up for these ever green shorts whose put premium stay evergreen and stay alive and kickin on SI..
The put I sold for 31$ is now worth 21/2$, so some one who bought that put for me on BKX must be losing that 29 and change but that same guy is wildly smiling and cheerfully higlighting his loss.He never seems to loose anything, that is what surprises, me look at the SP99H put premiums for 1250 for April selling for 10$. Now I would just throw some money on them as a gift to the bears, sure I would highlight that these same puts were selling for 40$ and change a week ago, so does shorting is a free exercise ,, can someone answer this simple question from the bears den..what happened to your puts of March 1st..?? Is all this exercise is vain glory, are your short calls not hurting? Is their is nothing as margin calls when your shorts are going against you. If all these are not facts than the what kind of trading shorts goes on SI..What is understandable by a common investor, we should be seeing a short covering rally if shorts are caught in big squeeze?
The fact is half of these characters have no idea of what market is all about other half who know a little about market have never shorted they lost it all last time in Oct 97 this is the reason if you ask on a wrong call they get pretty nasty? N
Now trading without capital on SI is the greatest form of ego rubbing when someone rub your vain ego with that 'great call' slogan, get real and read your posts for last one month only a fool can make money on short long incomprehensible messages where are your calls on AMGN's Nokia's Txn's or C's or Mer's or SLB's.. you were always short always carefully keeping everyone out of the market and now you tell me please don't rub on us ...This time as DOW prints 10,000 I want to let you know that your posts are zilch and when I take a stand against you even all odds seemingly against me I know I will prooove you wrong Like I did on 1030 1130 and 1230 and 1330 and now 1470. always first to stick my neck out also first to take that credit and first to show you the mirror.. with greatest pleasure... . |
