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

To: penthouse mike who wrote (50120)	5/13/2013 1:04:29 PM
From: GROUND ZERO™	Respond to of 218454

No, still holding that short, and I also wrote in the money June Puts on that short position for some cushion... I'm going to give it some time and I'm well protected until it either sells off or I just dump it... I also added to my short euro position just a moment ago... and I also reinstated my short gold and silver positions per the very odd closing Friday in gold... On the short SP, at this point, even if this market only goes sideways or inches higher, I should still make out well with these written Puts since the time premium is fast eroding on them... GZ

To: penthouse mike who wrote (50120)	5/13/2013 1:40:33 PM
From: GROUND ZERO™	1 Recommendation Respond to of 218454

Realize that a VP tells you where the market is extremely over stretched... 1623.10 is clearly showing this, e.g., for four consecutive days this market has not rallied, it has stalled completely so far...now, it could break loose and explode higher considering the steady money injections this market is receiving, but a four day stall at the VP vicinity shows that this major VP still has an influence on this market... until this market breaks from the gravity pull of this major VP there is still a reasonable chance this market could begin to unwind, and the ideal place for any unwinding would be at a major VP such as this one... this is why I'm willing to stay with the short side and of course with some protection with in the money written puts, just in case... GZ

To: penthouse mike who wrote (50120)	5/13/2013 6:08:26 PM
From: GROUND ZERO™	Respond to of 218454

A light long position in the bonds this evening... GZ

To: penthouse mike who wrote (50120)	5/13/2013 9:29:52 PM
From: GROUND ZERO™	Respond to of 218454

I went long the NQ and the UPRO this evening, so with the wrapped around covered SP put position, long the NQ and UPRO, I think I'll do well... short was clearly not a good idea, but against the VP there was no choice, but either way, now I should be in good shape no matter what this market does... sort of a complete wrap around straddle that should work... kind of nutty... LOL!!! GZ