Seeing that there is choppy confusion in the markets, the QQQ and SPY diverged on what will be happening tomorrow. A lot of blue chips were throwing graveyard crosses (a top signal) and before Apples midday rally, it had a cross as well.
This tells me that things could go either way. So I did my version of a spread. The cubes said up, so I bought a call. SPY said down, so I bought a put.
The nice thing about this is the market is going to chop around for a bit before it moderately drops. This volatility will make me money. If it goes up tomorrow, Ill sell the call and keep the put, maybe double up on it when a new top shows on the tech charts. If it goes down tomorrow, just the reverse. Ill sell the put, hold the call, and maybe double up on that call when the technicals call for it.
The nice thing about this is the market is not going to pull off like a Greyhound bus and leave me at the station watching it leave. As in the market is not just going to climb for a few weeks leaving my put in the dust and the market is also not going to suddenly drop right away leaving my call in the dust. No...things are going to chop for a bit so I can play things both ways.
That reminds me...I have to go over my past calls and see whats languishing up there before the drop 2 weeks ago.
Until later tonight, when I will redo my Market Forecast for Thursday and Friday.
Tradinginsider
Wednesday, September 2, 2015
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» So here is what I did with those last two orders
So here is what I did with those last two orders
1:08 PM
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