Now the talking heads will be all over this. Is the bottom in? Are we there yet? Best buying opportunity in a generation etc.
One thing to remember in bear markets. You will see some of the most spectacular rallies.
My SPY puts (88,89,85,84,82) etc are so far in the money I cannot believe it. Even after the 9% rally last week. The perfect thing to happen would be for another week like last week. That would give me the perfect storm. But as anyone that has traded for more than one bear cycle, you rarely get what you want or expect. You need to trade what is given to you. Right now the bear is growling big time.
Stay tuned (or watch for the newsletter) some ideas on this weeks trading opportunities.
Subscribe to:
Post Comments (Atom)
4 comments:
Hi,
did you buy those Puts?
I got assigned some 4 uyg and have an order to sell 3 June @ .40 the others I rolled out.
If that is what you were talking about
Hi Dell,
Is this a short covering rally?
I cannot find any logical explanation otherwise.
I bought some of those puts, got assigned at 4 and it looks I will still make money.
Post a Comment