the trend is up, market has bottomed.

Thanks.....Once you moved your stop and if the market had continued going lower where would have decided to take your lose??..

once again thanks for your reply and good trading

 

rigel, dgabriel, and dotslash,

I know you guys were pretty bullish, or at least not bearish. I'm glad you didn't get caught short in this.

I'm doing some correlations between the DOW, the Naz100, the Compx, and the SPX.

If we continue to rally up from here, it COULD have even more serious long term implications... especially for bears.

I'm not making any sorta prediction, I'm just stating that I'm finding some evidence for a return to full blown bull market, at least in the DOW, and possibly SPX. I need to do some research on it.

I'm only saying that I'm finding some strange correlations that I didn't get last time during September lows, so bears, theres no need to jump up and down and shout. I very well could be wrong, and I have no opinion on it at this time.

 

My stop would be at todays low, TOMORROW.

In otherwords, I would let today play out... like it is right now, and tomorrow, if we take out todays low, i would stop out.

Disciplinedhedg,

check out my sleeplessnights thread... some of the last posts were an options play. I bought puts for .20 and they went to .80

thats a 400% catch in 2 days. Ok, now add in the fact that I'm going to be holding for weeks. and i'm going to be selling a bit into strength, and buying back on weakness, and you will see that it's possible to make 1000 percent easily.

 

at this point it is just a welcome bounce, but there is always a chance it could follow through for several weeks.

 

r u related to lundy?

 

only in the sense that I bought calls today.

 

what king of vega exposure?

 

This from money.cnn.com
<i>"Gains in tech leaders IBM, Microsoft, Oracle help major indexes stage impressive turnaround."</i>

Am I mistaken or do those three stocks not make up a huge percentage of the SP500 index?

Perhaps you can send Mr. Greenspan a thank you card for today's gift.

 

Excellent point...People fail to realize that calls following a high volatility downtrend tend to compress vega's quicker than you can get the "pop" you are looking for...

 

MOC orders will be interesting to see.