I'm also very inclined to short this rally. In this bear market, such tremendous up days have always been a knee jerk reaction, followed by decline back to original levels. I think the late day divergence between the Nasdaq and SOX is telling. Just bought a couple of SOX May 500 puts.
TODAYS EXECUTIONS: 15:53:25 QLGC SHRT 2000 48.63 11:59:23 QLGC BOT 2000 45.58 11:22:12 KLAC BOT 2000 58.28 10:46:34 DIS SLD 2000 23.78 10:13:42 QLGC SHRT 2000 44.58 10:02:33 KLAC SHRT 2000 57.28 09:40:19 QLGC BOT 2000 43.62 09:32:50 QLGC SHRT 2000 44.17 OPEN POSITIOS: LONG .SJXQL 5 17.00 +24.40 SHORT QLGC 2000 48.63 +0.16 SHORT CPWR 3000 6.95 -0.06 LONG PALM 10000 3.63 -0.92 SHORT VZ 2000 40.23 -1.12 CLOSED P&L: ($3,010) OPEN P&L: $1,250 MTD: $10,640 YTD: $169,972
Seanote, What do you consider extremes on the Put/Call ratio and what exactly are you looking for? TIA, Kev
a lot of guys were inclined to short this rally, and were all struck with the same disease of disbelief in the strength and force of this rally, don't feel bad, because a lot of guys threw up their hands, closed their apps, shut off their screens and went out... QLGC up over $10 was extraordinary, whilest the (so called Pristine call) on WCOM at $2 and above on its way to $3-$5 was a loser today go figure
TODAYS EXECUTIONS: 09:41:51 QLGC BOT 2000 48.05 OPEN POSITIONS: LONG .SJXQL 5 17.00 +40.00 SHORT VZ 2000 40.23 +0.07 SHORT CPWR 3000 6.95 0.00 LONG PALM 10000 3.63 -0.97 CLOSED P&L: $1,160 OPEN P&L: $10,340 MTD: $11,800 YTD: $171,132