trader198
Registered: Mar 2010
Posts: 1217 |
09-20-12 11:30 AM
CDE/EGO performs weird.
looks they are in a pullback (range band), and I do not buy pullback (lots of pullbacks just reversals). USO is a good example. USO's drop reminds me: CDE/EGO 's drop is just around the corner. I think lots of CRUDE buyers in this week get crushed. do not trade obvious!
all my puts are in red so far, but I stop adding. when it turns green, I may add. looks I am early.
patience is the key. I just wonder who the suckers to buy at those levels.
when things so obvious, like a nice trend well defined, always mean opposite.
normally I trade in the direction of the obvious, but in this case, I take a contrary view. reversal is a process, needs time.sometimes, quickly and vilently. CDE/EGO up so quick, go down will just 1/2 days.
I rembered FSLR did this just weeks ago, it doubled after earning, then everything looks so normal, it kind of rush toward 30, actually I am thinking buying 27 calls, then in one day it suddenly dropped 5 points, puts of 25/24/23/22 all printed more than 10 folds gain. I was shocked.
this image of shock made me see CDE/EGO drop may happen like that, I feel it is real. maybe just my illusion. I hate to be suckers. but also I hate to go against the market. since all hurts.
everynight, SILVER/GOLD dropped, then some guys pumped it up in the opening. I better trade the future directly.
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