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SPDR Dow Jones Industrial Average ETF Message Board

  • lloouuiiss22 lloouuiiss22 Jul 6, 2007 3:31 PM Flag

    Doubble/ Tripple TOP Formation

    Why is everyone winning like a 5 year old
    child? Cause ya shorted or bought PUTS too
    soon! Diddn't ya know it was going to test
    the recent high? Still 0.50 away on the DIA
    Then it dropps like a rock!!!!!!!!! You can
    put on a posistion now or wait till next week
    Monday morning is my guess. 3 more tradeing days then
    a sudden drop! ALWAYS A sudden 400+ drop in the dow
    durring a monster BULL market. Then ya better cover
    and buy calls while Cramer and the Fast money 5 say
    "wait a couple weeks" before getting in(Ya right).

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    • A very uncanny call you made, with the exception of the guess on the huge drop.
      I would hope there would be follow through selling on 7/11, all the way down to support at DOW 13,300.
      From there I would close my 135 and 136 puts, and go long on select stocks, staying away from the "Diamonds" for a while. I have made some nice option plays in the oil patch,
      and FCX for metals.

 
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