Silicon Investor (SI) -- The First Internet Community

STOCKTALK

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 : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: ayn rand who wrote (89484)	8/7/2009 6:57:37 AM
From: Real Man	Respond to of 94695

Yeah, I have read him, but he has been quite wrong, and for quite an extended period of time in the past. The bulls are cautious here, while all bears are trying to short the highs. In the meantime, stocks are not down much at all, considering the enormous advance since March and July lows and the overbought condition. That concerns me. The financials are in an upside crash, with very bullish charts, projecting XLF = 21.5. I am running that target with October FAS calls, but risking 1/2 of the profit, so that position is free. I had quite a multibagger on that already in the past few weeks, so I can lose some if the trade does not pan out as expected. As I mentioned before on Don's thread, FAS calls offered extremely good risk/reward for the bullish trade because of very low IV. They still do.