The Dow had broken its Nov 08 Low and is poised to test the Oct 2002 Low at 7197. In the meantime, S&P 500 is still testing the Nov 08 Low.
At the moment, the major indices are showing signs of being grossly oversold. Based on the intraday price action, I am not comfortable in leaving any swing bearish plays. My Bear Call Spreads on SPY and QQQQ as well as my Puts on SPY had done very well. My positions are all closed for now (by Friday last week). I was locking-in my profits. I am waiting for the market to retrace some what before I short again. In the meantime, I will possibly play intraday trades if the setup is right.
Cheers !
PersianCat (Millionaire-in-progress)
Trade Like A Persian Cat reminds me that I should be like a Persian Cat, waiting for the right setup to trade and not act on impulse. This blog documents my trades, thoughts and reflections in playing Options in the US Market. "Bulls make money, Bears make money, Pigs Get Slaughtered, Cash is King"
Who Am I ?
Interesting Read
- Are You An Academician Or Practitioner?
- Are You Winning The Battle?
- Comic Strips
- Guidelines For Intraday Play
- How The Markets Really Work
- Jewish Holidays 2012
- Optionquest Online Game
- Play One contract only !!!
- The Average Investor Mentality
- The Market Cycle
- US Market Holidays 2012
- Who Are You Trading Against?
1 comment:
Thanks for the updates, PersianCat.
What is your Forex view ? EUR and GBP is moving up. How will their strength ?
Regards.
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