Wednesday, November 11, 2009

Will not have time to post update tonight

Wife's birthday today so no time ... but wanted to let you know that I do expect prices to move a bit higher still. Yes we did reach our DOW target but the marginal high on SPX especially with the price action today does not qualify as the end of the move.

We expected the spike and sell off in the morning hours - however I did not expect a totally sideways day which means we are not done on the upside. As crazy as it seems when looking at the daily chart, the market may have more left in it.

I did add a small dec 110 put today (at the bottom of the intraday range) so position wise I am around 40% committed on what my final position should be. I am still 100% cash on futures and equities, though keep in mind I am leveraging a bit more then I should via puts - so one could say I am in quite a bit already.

1 comment:

  1. Still holding onto NCS from $1.85. Up 13% so far. SICK volume today in last 15 minutes and closed at HOD. Hoping for a gap up into tomorrow that I can sell off into.