I was out of town the second half of the week last week. EUO and SPXU both got stopped out as per the posted stops.
There was a noticeable jump in optimistic sentiment last week. Surveys are quite bullish across the board. Options activity got very bullish as well from both large and small traders. Today, the OEX put/call ratio spiked up pretty high again at 1.88. So it looks like the current 2 week run is running out of steam. Basically, I'm still waiting to see if this breakout holds before considering a bullish short-term trade. If there is a classic bearish candlestick pattern this week at any time, I will still definitely attempt a new intermediate term bearish trade.
Also, I may go into more detail on this later, but for those who have stocks and long term stock investments that you are going to hold no matter what, but will consider hedging in some manner, then I would be getting hedged now as most of the crash from last fall has been retraced and optimism is running high on about every front possible. I would look to March or April expirations for put options if hedging.
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