Been buying all the way down the correction over the past two weeks and getting burned. Bought near the open friday but the rally fizzed out later in the day to destroy my position for a loss. On monday if a strong up opening occurs I expect a dip then some buying to step in. Otherwise I will probably stay out until a clear bottom appears....
well, I sold calls as vix was rising. It looks like they may expire worthless after US downgrade. I have a feeling that some people knew about the downgrade before announcement.
50% fib 5600 reversal is coming Account is a bit depleted due to stupidity but what to do, paid for lesson.
I closed all options when we went below 6600, small negative delta. At the moment I accumulated dax over past few days so it is annoying to see that dax is -1.6% down and other indices are already in positive teritory.
I've got a feeling that dax is very vulnerable on the downside compared to other indices. Any idea why?
As opposed to say, FESX or are you talking about US indices? I bought some FESX at 2108 yesterday and closed it for 2208, +100. Made back my losses over the past 3 weeks and then some. Now I will look to see if the market bottoms out before committing on the long side again. Otherwise I will just switch to shorting the market. Although looking at the first 5 mins of today's open I feel a good spot upcoming to enter a long position later in the day. Either that or the markets just gonna capitulate, lol!