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I sold my SPX puts early in the morning of the 4th (Wednesday) ... was the
third time in a month or so where I ended up closing a profitable short
trade for a small loss. I didn't like Tuesday's rally. I didn't like the
fact that they were able to hold the second decline attempt a few ticks
above the first. I didn't like the fact that the time in Tuesday's rally
exceeded the time of the decline. And I didn't like the
fact that the short trade had moved into the "hope" stage. All in all, a
sense that I was trading against the tape and they were going to take it
higher.
My weekend analysis once again shows all the ingredients in place for a
significant correction, however I am undecided on action. I may look for a
short on a retracement and use emini to scalp a decline. I generally use the
deep in money SPX puts to do a short position trade and that has not been
working.
Earl
----- Original Message -----
From: "Brad Cline" <bradcline@xxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Saturday, June 07, 2003 2:08 PM
Subject: RE: [RT] small lots
> Earl, did you hold onto your OEX options with Fridays new highs?
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