Good report. I sold out my October call spreads for a nice profit today. I opened the trade the day of the big nose dive after earnings. I'm not hanging around, it will probably retest its recent low again. People will still need memory.
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Markos - good article. I think the market is more like the Heisenberg Uncertainty principle in quantum mechanics, when you try to measure the location, you can't measure the velocity and vice versa. The rapid rotation between sectors if unusual as investors try to feed the pig. Last couple of weeks it was BioTech & Healthcare. There are several sectors in play but energy stays at the top of the list. Not sure which direction it goes (Oil - Tech - Steel - Ag - Healthcare), only one missing is Finance and without that stabilizing, we'll say in bear territory.
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Wouldn't the stairway ping pong ball move sideways with lots of violent bear rallies along the way? I would say that's when you get in the SDS or press up short positions. We bears want to test the next set of lows.
The world has figured out Americans can afford $5/gal gasoline. We need more refineries, reduced strategic reserves and more places to drill in our hemisphere.
Google has too much money, they were better off with another moon shot. The FCC bidding was just a move to open up the spectrum, they don't need Sprint or Clearwire to grow. They will have to get better Android development tools to market fast to compete with Apple iPhone.
Hi Paul - I normally don't like to hold a trade that long. You would have an option requirement to hold on to the naked put over the time frame. Why not just buy the 100 shares and sell the front-month $12 covered calls each month (for around .50) for 9 months or until called away?
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