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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (49863)	5/9/2013 8:30:08 AM
From: Fintas	Read Replies (1) \| Respond to of 220515

I got to disagree re buy the dippers have been right. There are many equities where buying the dip is not paying off YET. If I was seeing many putting in previous highs all all time highs I'd say OH YEAH. I'm selling covered calls because I do NOT fear losing the equity. That means the strikes I pick are at points I do NOT expect to be hit. The rally is unsustainable. I'm no day trader so I don't care about 1/2/3 points on the spy or 16/36 on the spx. Already consider such. I see further out then a day or a month. And from where I sit, the retracement will occur and as it does it will take longer than expected and that eats up TIME and before we know it the next question will be. OH CRAP..look at how bad things are. In the meantime let GOLD bounce, apple bounce, google reach for 910. I'll sit back and watch the vulnerabilities such as a momo at 61 and up from 28 and looking at a head wind at 64. Overlap that with a sector at 82 and 84 as resistance, a 10 week at 88 and ditto and a 30 week at 93 and doing a last gasp to a new high and OH YEAH... Place your bets. Just becareful if you are doing it with an equity that's in a sector that is going to roll. IMHO Fintas