looks like all eyes are on 9500-ish. I expect Miss Market to be coy. Nat, I have noticed more than one situation where that very approach worked well. It's a good tool to have in the kit.
Makes sense... What would you do in this case... its gone up a lot, but it could easily go up another 1000 pts. Likewise it easily head to the lows. I wouldn't be surprised in either case.
Right now I'm kinda wondering the same - whether to take a profit or stay with my calls. Jury is out right now. I'm seeing a possible move to 9250-9350, after that it's up through resistance which may not happen... Guess I'll know in a couple of days one way or the other... Natalie
Reading the boards this morning I see just about a 50-50 split in the good traders opinion... if you look at a long term chart, we are just about in the middle of the bear channel, so it could go either way, but the momentum is definitely up since oct 11th. What i have been noticing is that longs tend to be tentative with their opinions today, while the bears keep trying to press their shorts believing there is no way it can go up... maybe dow is climbing a wall of worry?
It was the OI on the deep OOM FTSE options that alerted me to this back in 96. But yes. that's more or less what I've been doing. I did a few calculations as to the most likely to be profitable and came up with a few formulas to apply, which dictate how OOM I get. As to the book, I've skimmed it but not fully read it. Thanks for reminding me about it... Natalie