i just got in too early and I should have got DEC monthly puts, but oh well.
I still think market will drop tomorrow and google will most likely go down close to 2% if market as a whole goes down.
ECB cut rate again after market closed by another .25, but that didn't help anything as we see china in red big time.
We will see, but I would like to see goog down about 12-15$ tomorrow to close those 9 dec 605 puts for at least break even 470$ each.
We will see.
Everyone was so bullish in the market over last 5-6 days, all trying to push the whole thing higher into year end but the problems were ignored. Europe problem is not going away and there will be more troubles to come. Just wait till countries don't comply and voluntarily or not start to drop out of Euro Union. Then financial problems in Spain, Italy, portugal, greece are still there.
How about home Freddie and Fannie mac still asking for Billions of dollars each quarter and we keep paying for it even after 3 years post recession. How about congress effectiveness to get stuff done. 0 effectiveness.
We still have problems and a lot of those are ignored.
I will trade cautiously, but I will continue to hold puts in tech (3 months out probably) just in case that whole market drops which is just better of time. Europe 3Q GDP was at 0.4. It will probably turn negative early next year.
I will be in more cash position and have few puts at all times when market drops, we will probably have a possibility of that double recession due to europe. MY PREDICTION.
I do not want to invest until 2nd half of next year. Early 2012 will be ugly.