Discussion in 'Trading' started by twcg, May 12, 2002.
Should we short at $80+?
How bout just buying some eds dec 50 puts. I just snagged 20 on friday at 4.1 each. I'll add more higher. This is going to 30 by xmass. Add that one to your poll, then read the latest 5 postings by herb greenberg.
P2, check this out:
I am convinced this is a suckers rally.
I did not short yet. I am waiting and watching.
I never really thought much of the info from trimtabs. Thanx though. I intend to add more eds puts tomorrow hopefully at around 3 each.
pick up some more thv while u are at it . its under .8 now
I do not put much emphasis on charts intraday, except in the spoos for s/r. However, on daily and longer time frame, I take T/A very seriously.
In case you haven't noticed, the spoo daily chart just painted an inverse head and shoulders. The spoo action today broke out of both the HS neckline, and if you look at the downtrend, you will see that 1090 was also a critical Technical breakout.
If you believe in these "signals" the "market" in the form of the DOW at least is headed for high 10's and maybe 11000. If this pattern fails, then it will be DOW 9000.
IMHO, if you are going to short this market, then I believe it is best to do it as P2 is doing - stock specific with puts for the "intermediate" term. However, given the above analysis is accurate, this is a great time to buy straddles if one is looking to do an "options" play (options experts please chime in other strategies.)
As far as shorting IBM or MSFT or INTC, God save you, even if you are "right," as if the market picks up steam, these stocks, barring news, are usually glued to the spoos or the NAZ futures, respectively. However, if the pattern fails, which is antipercentage, but possible, you will be very happy indeed shorting...
Read an article that said IBM is a $20. stock. Do you agree?
When the spoos go down, IBM goes down - when the spoos go up, IBM goes up.
Outside of that, I do not know that anyone knows what is going to happen tomorrow, let alone next quarter, etc.
Separate names with a comma.