Vacation was too short as it always is.
If you received my newsletter, we discussed the Fannie Mae problem. As I am writing this, the feds have indeed stepped in and made some bogus rescue plan. This is clearly an obvious move that has taken no one by surprise.
This should turn out nicely for the selling puts idea.
Ahh the gov. so predictable Always wrong but predictable
3 comments:
Hi Dell, in the light of the oil price drop today, will you sitll consider being long XLE?
A hedge fund (I think) dropped its oil stocks and sent the prices down a lot. I have been short USO for the past month or so (put calendar), but I still have a long position in XLE.
I know XLE is not all about oil, but many eqaul this EFT with Oil, and it took a dive today.
I am still bullish on oil and therefore oil stocks. We just had an incredible run on oil. It is now going to catch its breath and pundits galore will come out with reasons why oil has topped. I dont buy into it. Slow down or no slow down, cheap oil is a thing of the past for the time being. This will cause anything that has to do with oil go up as well. Take this chance to load up for the next run on oil prices.
Today we only saw a single hedge fund drop is shares in oil. I believe there will more to follow and then panic.
Till then I have my put calendar, which keeps me afloat. I am not in the red yet, thanks to your strategy.
I'm being stubborn on my theory about oil, and I want to be there when it happens.
I am thinking about Potash to place a put calendar on it too. I love how it rocketed lately. It has to pull back a lot.
Don't get me wrong, I am still bearish on the whole market. I am in that camp that believes in DJ 10000 or even less.
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