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  • mdmteddibiase mdmteddibiase Jan 24, 2013 1:48 AM Flag



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    • Thanks MD. Updated read is - "it's INSANELY overpriced". It is still above $45 , isn't it ? March 165/170 puts look very attractive for a triple. The key is the overall market. A close below 1489.90 on the SPX today, puts in place an "outside reversal day" at the top of a very long run since Nov 16th, and coincides with the highest price in 5 years and within 3 years of the all time high on the spx which was made on an "island reversal" day at the all time high in Oct of 2007 which coincided with a double top at the time. I don't believe that top will EVER be eclipsed. Therefore, being only 3-3 1/2% away, if the "outside reversal day" is accomplished today and confirmed with a gap down in the morning, I will be 100% short the market in the various names I mentioned in my "out of Aapl - finally" message. I would also advocate looking at the SDS and QID for long positions. Again, note Amzn today. Up huge to a new all time high on a gap up. If Amzn gaps down tomorrow, It would put in place an "island reversal top" at the all time high. That's the same pattern Aapl made on Sept 21st last year at $705 ( I pointed it out the very day after it was made when the stock was at $694 and got laughed at as usual. Look for a gap down in Amzn tomorrow. If that occurs, consider Feb 1st weekly 270 puts on Amzn , and/or Amzn Feb monthly 270 puts. Amzn earnings out next Tuesday after the close. You can parlay those into Bidu, Lnkd, Yum, Pcln, Crm, and Lulu puts ahead of each's earnings reports. Best wishes, and thanks for the positive nod.

      Sentiment: Strong Sell

59.09+0.80(+1.37%)Aug 29 4:03 PMEDT

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