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Gary in Hawaii and Ewave folks...Read on,
A big chunck of my cash is in 2 places.....benham 2025 zero's and ultra
bear fund (-200% in the s&p) These are legal to do in IRA, Pension and kids
trust accounts. (In futures I am long Bonds & SF and short DM.
I do not like to lose money so I avoid options unless....The market is set to
go in a given direction very fast with high probability.
This week I stepped into those scary option waters.
Where is the market going?.....My guess is that the market is in a Third (C)
wave right now.
The E wave guess is that the high was a B and we are going down for a C.
Now I know that Advanced Get doesn't agree but.....I have looked at many
1980's Tbonds charts with this program...where we all have 20/20 hind sight
and....well you can see for your self how accurate it is...or isn't.
So if ...if...if we are going down for the C wave (basis weekly charts) now,
what is likely to occur in the next few weeks?.....I look at possible support
around 900 in the next week or two if we go down there. This would fit in with
your Hawii projection. If I get a bounce around there it will suprise the
pundants...If we go past 890 past the next point that will get my attention is
around 855...all basis cash S&P.
Regards
Mitch
owner-realtraders@xxxxxxxxxxxxxx wrote:
> Hi all,
>
> like i stated the other day, i now have 4, 515 sep oex puts at 7, now worth
> around 8.
> well tomorrow, when the office opens at 5 a.m. hawaii, 11 am e.s.t. i will
> deposit enough to buy my 5th 515 put at anyprice, 6,7,8,9 who cares,
> whatever it is when i get there. WHY? because i feel we are going to 450
> or lower before sep 18th, which translates into atleast "65" points in the
> money times only 5 options, do the math!
> ya, i'm probably too early/impatient and the time value will kick my butt a
> little if we sit here for a while. it's a chance i'll take. "maybe" over
> the weekend russia, asia, latin america gets worse. transportations keep
> going down, and won't it be fun when the dow, and other indexes take out
> last weeks lows, and CLOSE below the 200 day ma,
> 3rd wave, whatever. I just have a good feeling and i will not ignore that
> "feeling".
> Hey, last october i shorted at 917 and the next morning we were at 840 in
> the spooz.
> imagine if that margin was in oex puts instead, if "bet" it would of made
> more money.
> why have i ignored these "stock" options, and dedicated myself solely to
> futures?
> oh, and no margin call. these 5 oex puts i will have, even if i'm dead
> wrong and they expire worthless, so what. i remember losing that amount
> day trading the spooz in about 1 or 2 minutes, on MANY occasions !!! ah,
> the good old days.
> compare and contrast, it's a hell of a lot less stressful!!!
> any comments.........
> gary
> hawaii
Mitch Ryder
Ynos@xxxxxxxxxxxx
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