With the market rallying and the p/c ratio really low, I think I wnat to get some puts.
Oil is week but I will stay away, GLD is being rejected at resistance but those are long term buys so I will stay away.
Tech has been moving up an lower volume, I think I will look at that space.
Remember I am a trader and buy/sell very quick so investors keep that in mind.
APPL., AMZN and RIMM all look good for some puts.
AMZN has its earnings very soon so I will stay away , as the calls/puts are very expensive given the fact that IV ( implied volatility ) goes up before big events.
That leaves APPL and RIMM. RIMM is going to print a inverse H&S Imo with the neclike at around 55. SO if RIMM manages to move to 55 I will buy some puts.
APPL looks weak here but it has formed a triangle and is near the top of that, if it goes over 91 on good volume, then thats a breakout and below it has support near 80.
Maybe I am wrong as the market is oversold but I am taking a small position and the extremely low p/c has worked very well for calling a down day or two in the markets.
Will keep you updated on what I do. I still have the BRCM calls.
RTO Gets Serious: October 1
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If ever a week was ripe for delaying your return to the office, it was
this one. Hurricane Idalia cleared out the weather up and down the coast,
brin...
1 year ago
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