i think buying more inverse would have been the way to go.....on the closing of the gap....i didnt sell or buy any more...peace although the QID doesnt look to good for the upside.. SDS is looking better...obviously depending on time frame....
Lots of blue on my screen with LFC, NOK , F up. Did short some GSF DEC calls against my long Jan calls though in case that continues to slide, took profit on COP, EGO calls and loss on some of my VLO calls. Still have calendar spreads on the others. With COP reporting on Wed. it should go down for a couple days if earnings look good.
This morning dip was a huge screaming buy There is no reason for the markets to go lower. No bad news or anything.
New York, October 22. USD/JPY had been stuck in the same 113.90/20 sideways chop, however as the Dow has clawed its way back up, so has USD/JPY, hitting 114.49 at its peak, taking out last night's session high, and filling the gap on the hourly study between Friday's close and Sunday's open. The Dow is now up 0.32% against all prognostications, and the NASDAQ is up almost 1%, and equity traders noted an obstinate bid in the market early in the morning after the initial sell off that just has not gone away. Equity traders are buying stocks partially because of the firmer dollar, and USD/JPY traders are buying dollars because of firmer equities, at some point someone will want a better reason, but for now, its enough. Peter.Wadkins@Thomson.com Smells of PPT