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Nice little dollar bounce led by some massive Yen dumping. Only made it to 85.4 Yen before being rejected.
Looking at TRIN (4.27) - if anything it looks like we’re ready to fall a lot further, so be very careful! If you don’t have good disaster hedges, I like the DXD $26/28 bull call spread at .70, selling the $26 puts for .40 for net .30 on the $2 spread that’s .67 in the money now. Stop above 10,450 makes for an easy out but the spreads will be painful.
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Hi Phil, just want to say thanks for all your articles. I am not a member yet. Your insight has opened up a whole new side of insurance which i was lacking. I hope to join soon.
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Phil's DXD Hedge and Warning to Members 1 comment
Phil - August 11th, 2010 at 12:46 pm |
Disclosure: Positions as indicated but subject to change
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Declan
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