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Uh Oh Bob,
Logic vs TA. Your description plus fundamentals are why I am selling
out of the money Naked Puts and selling covered Calls at a profit
Strike price on all of my stocks.
Imagine GE getting downgraded for its Capital Division, major pieces
of which will likely be sold to BRK [Warren Buffet] which would make
his Company the largest RE in the US....and GE will make handsome
profit on this sale...and have added money for acquisitions.
The bears are finding ways to put reverse spins on everything.
Someone else downgraded GE by using his own unique method of
assessing the GE Balance Sheet...the Press Release gave no further
details on this method.
The same is happening to the likes of other Blue Chips like JPM,EK,
and S ["six fewer shopping days until Christmas compared to last
year"} to name just a few.
I got my prices on Strike prices of Naked Puts of FNM,FRE,S,GE when
the bears brought the market down for a while today. All of them are
in the money already. I have 3 more to go to reach my monthly target
with the least exposure.
Give me 800 to 900 wins out of a thousand track record and the Naked
Put Newsletter will be born. Not a commercial...just having some fun.
Besides most of you disagree with the concept and I do not like
anything complicated like strangles,butterflies, bull and bear
spreads and the like.
I am not totally bullish or I would not be considering a 30%
allocation to a good Bond Fund at the right time. I could become
totally bullish if the Dow breaks its high of this year over the next
3 months.
And I do believe in TA, Market Momentum,Trading with the Trend all of
which are in my S&P system.
I feel like this is the time to have your cake and eat it too...the
shorts are becoming less daring except in extreme special situations
and the money on the sideline is looking for something better than
current T Bond yields.
Hey, my analysis of the situation may be far from perfect, but it is
a lot of fun to even think about. Don't critique me apart to badly!
Just my tired end of day/week thoughts,
John
------------------ Reply Separator --------------------
Originally From: BobsKC <bobskc@xxxxxxxxxxxx>
Subject: Re: [RT] Anyone know of a ...
Date: 11/15/2002 10:29pm
It became too vogue to be in the bear camp. Even on this list, there
were
few calling for any upturn and when it gets that popular to be
bearish, I
can nearly guarantee you what is going to happen. This, along with
bond
rates below real inflation and a public spoiled with huge returns
from
equities just a scant few years ago. Most don't believe this move is
for
real even now and that is exactly what will keep it climbing.
Bob
At 10:48 PM 11/15/2002 -0500, you wrote:
>good psychiatrist for the bears ?
>OMIGOSH - these poor guys must be going crazy.....
>the worse the news, the higher the market.
>Now they're going to be cheering for good news.
>
>And poor Arch Crawford must be polishing the lens of his
telescopes...
>wondering what stars he was mistakedly seeing....
>
>
>
>
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