Ok, today we had follow through on technical support carried over from yesterday. Positive developments came out of China, and Europe (Spain) seems to have come to some kind of short-term agreement. I wanted the market to go down- let it burn and get it over with! But who can complain by being up another 100 points? Well, I can actually, because we are still not out of the woods yet by any means, and this just delays the process. You have to adapt on the fly in this wicked market, so here is the new plan: let the stocks ride, trim on some of the strength, and don’t close the puts out today- but if we pull back to the 200 again- I will. Then, if we break the 200, put the old shorts back on again. I wanted to sell calls at the top, but we haven’t had near enough of a rally for that to make sense. Looks like we are trying to find a W-shaped bottom…time will tell.
Your complete start-up kit to investing
$19.99 per Guide
Daily Stock Picks & More
$129.99 per Year
$75 per hour
Register For This Site
A password will be e-mailed to you.
Trading Ideas (Premium Members)
Keys To Success @ Wsss.com