Muppets being set up for slaughter. 13+ consecutive weeks of big boys unloading stocks and rotating out. It's only one day, and always easiest to ramp market on light volume. I'm not really worried. I've got 3 weeks more before my puts expire and I'm expecting QQQ below 100 by then. We'll see. GL
Glad you liked it Drew. I found it immensely helpful as far as being able to apply a more disciplined approach and analysis to my plays. It has helped eliminate some of the emotional mistakes I have made in the past. Keep me posted as you move into options. It'll be nice to have some other people to bounce ideas off of.
I don't think so. AMZN and FB had great numbers, and market is barely hanging in there. All it'll take is one headline and then here comes the algo dump. I think the market will be in a downtrend for the next 2-3 weeks imo. I'll probably add a defensive straddle on the calls side 20-24th due to Fed meeting that week. There's usually a pop after the Fed meeting. After that, I really see a short-term pop for a week to 10 days, and then in June I'll be going all in on out of the money puts through the end of June. I think first half of June is going to be a significant move to the downside. After that, I think we'll have our bounce until second half of August when the #$%$ could really hit the fan. Yeah, just a guess on my part, but I'm looking at some historical movement and expect there is a "plan" for managing any downtrend, so I figure the cb's prefer to follow a previous plan rather than head into uncharted territory...pun intended. LOL GL drew.
Manufacturing numbers are #$%$, Puerto Rico jawboning to delay default, NJ on cusp of default. PPT hard at work today. I was hoping for a down day at open, so I could sell my puts around 2:25pm and buy back after the ramp near the close, but this is looking like an atypical day. :-(