The Week In Review
The major indexes (DOW, S&P500 and Nasdaq Composite) are now attempting to test the September High. If it breaks the High, it will test the resolves of those who shorted the market. I would love to see a double top formation, where the September High is one of the double top.
My own view is that the market might see a correction towards the end of October. Someone asked me, what if I am wrong. I said to him, so be it. At the current stock price, I am not willing to long the market anyway. Let the bubble grow bigger and explode. If I am right, I would want to be ready to short the market. Depending on how the market moves, I might short the market by end this week or early next week.
My Trading Position:
Last Tuesday, I updated my handholdees that I have closed all my Put positions on last Monday (lock-in my profits). I am back to playing ES futures and intraday SPY options (and Forex in the day).
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?
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