Sh*t let me get this hoe out of my bed and go buy me some puts. P.S. You damn sure about the puts dude?
"I think he meant mkt will go higher now that he is short" Bingo, you got it. I really should publish a newsletter lsiting my trades, it would be a great contrarian guide.
haha I have been holding some puts for a little while and began adding to some long term long positions I want to try to make the market tank. I think maybe a little bounce from 875 and we keep heading down tho, but earnings is everything. However housing and employment numbers continue to slide, so I dont know how earnings will save us with all the optimism skewing expectations.
I did this same thing last year in July, bought Sept 520 puts on the OEX but was too early and they went down. When I got back up to even I didn't hold them or roll them out to the Oct 520's. BIG mistake, those $300 puts finished $10,000 in the money each. This time I'll let them ride and and buy spiders on the bounces if I'm wrong.