Yeah, my Qtr A Up at 1.4400 is well and truly breached. I'll be looking at the Half-Yr A Up after today's close. Got a decent return on the Feb '16 CL Puts, need to find another entry for March '16 Puts.
Oil, Russia and Iran. Some views and numbers. http://www.telegraph.co.uk/finance/...for-oil-as-Russia-poised-to-slash-output.html
I know it's just a theory...but this blow off top seems less and less likely with current condition. All my NLs are deeply negative so far.
I'm very short right now. My "theory" states that "after" this correction whenever that is, could be 9 months from now, this market would rally back hard to new highs and have a blow off top. It would resemble the 1998 to 2000 top where we had a ugly massive correction in 1998 (yes it involved Asia as well) including a massive hedge fund blow up (LTCM) and then ripped to new highs without mercy. There are some key differences. For one, the Fed is not going to have the same weapons to get themselves out of this mess. But like 1998, the "Asian flu" as it was called was primarily an Asian issue. The US Economy was not that weak just as this economy is not that weak....yet. This is mostly China and oil and oil being closely tied to China. My number lines are all deeply negative and my stocks sheets look like this scene from " The Shining": So I'm short and selling at every uptick possible. But the so called "theory" is still in play....for now.
http://www.bloomberg.com/news/artic...th-30-oil-shock-spending-cuts-and-even-smiles Great video Banjo posted on another thread.