Thanks for the call bro! I'll step out and risk hurting some feelings on here, but imo, Atticus is THE options player on ET.
Note the Doji (or near Doji) on the daily SPY. It's at the top of the recent trend. Here is some insight from Steve Nison on the Doji at tops: "THE IMPORTANCE OF THE DOJI The perfect doji session has the same opening and closing price, yet there is some flexibility to this rule. If the opening and closing price are within a few ticks of each other (for example, a 1/4 cent in grains or a few thirty-seconds in bonds, and so on), the line could still be viewed as a doji. How do you decide whether a near-doji day (that is, where the open and close are very close, but not exact) should be considered a doji? DOJI AT TOPS Doji are valued for their ability to call market tops. The reason for the doji's negative implications in uptrends is because a doji represents indecision. Indecision, uncertainty, or vacillation by buyers will not maintain an uptrend. It takes the conviction of buyers to sustain a rally. If the market has had an extended rally, or is overbought, and then a doji surface (read "indecision"), it could mean the scaffolding of buyers' support will give way."
I bought Put options on the QQQQ yesterday , I hope to see at least 47 , a crash to the bottom of the range would be neat too.
Not only is the droid becoming a huge competitor, from the few people I know who have switched from iPhone to a Droid say that they like the Droid OS better. I could definitely see iPhone taking a back seat when compared to the up-and-comers
i think atticus is just offering a better alternative to buying puts straight up if you are bearish, and not making a call per se, i guess he can clarify himself. The combo is long vega and bearish with max profit if aapl drops to 280 and/or IV pop. Less risk than buying puts straight up, 1:1 risk/reward. The chart looks good for a short but apple is such a strong company right now, maybe some short term play? and yes atticus is one of the few et worth following, but he has a unique style of using words, it does make my head spin some times also read some dmo's post on options, much easier to understand.
Wow! I missed the hanging man on the daily AAPL call by a mile! Gotta admit a bad call when I make one... "Normally," a hanging man at the top of a trend on the daily is a strong signal that a POSSIBLE reversal is about to occur. The Japanese see this, and it's one where they don't wait for confirmation on. They either sell, or go short at the next day's open. Hmmmm... (Damnit!) At least Atticus would have made $$$ with his trade.