Don't know for sure...but I just sold Aug. 67.5 puts (think we are flat to positive from here over the next few weeks with earnings and x-date ahead). Could not pass up the $2 + premium at current price of 67.78. If I am wrong, I will just roll the puts...
Still not sure where we will be after earnings and x-date.
Re the puts that I sold, the advantage is that I am protected down to 65.80 (strike price less premium; 67.50 - 1.70). If below 65.80 on 8/17, can roll and just wait for price to recover.
Guru, August 17th is too far out without a counter trend up, RD right now is very close to support of $66.51, but because the advance/decline is still falling that means we don't see the end of this pullback until we see that is back in balance or leaning upward. SP500 went as low as 1331 close to previous support pivot of 1325. A break below this 1325 will mean that pullback will last a little longer. I think Friday or Monday will be a break or make a trend either up or down. Right now it is leaning more downward because MACD is showing a slight cross down of a shorter onto the longer average, unless it can pull itself up in the next few days. My view is still sideways to down short term.
No head fake on this one. RSI dipping below 50, Fast Sto right at 50 and sinking. SP below moving average. I'll follow this one down to low $60's before exchanging cash. Waiting on the chart. Lower Bollinger $65.09. Lower bollinger will follow the fall in SP, if it continues. This is why I would expect to see possible $63 or lower if the European bad news continues. JMHO.
Mutuals will take a hit, but holding those equities until December.
Spain baring shorting for 3 months was what the market makers were looking for to bring the negatives to a head and Barclays cut RDS to perform...that old saying "making a mountain out of a molehill" fits here. Once they decide to srart talking, they can't stop explaining. BTA
with the volatility im seening..i think i will stay out another day to see what happens...is anyone jumping today..you guys that read the charts have helped me out a lot..Thanks and GLTA
The way it look right now, this short term up wave maybe finish. SPX may have a chance to pull itself up by Friday, that remains to be seen. Majority of the Index are short term bearish (sideways to down), you maybe able to take profit on that put by the end of the week. Your thinking of flat positive to plus, while I am thinking of flat to negative bearish tone. Very interesting what will happen by end of the week. If SPX break below 1325, then support is broken, and a negative tone consolidation for the month of August, and we wait and see from there if market is ready for year end run or sideways till September. JMHO