Winning

Winning

Tuesday, September 1, 2015

SPY puts order

I am getting in SPY puts. After examining the market I have determined that we are all in trouble, this is going to keep going, the dead cat bounce just unbounced.
Below is the chart for SPY and what I was thinking when I was looking at it:

So todays candle tells us a lot. That gap down is pretty serious and the top tail tells us that its a top candle, there is plenty of room to drop:

My in:

So if this goes the wrong way tomorrow, or if there is a jump up, I always have the ability to double down.

Now you may notice that the option price is a bit pricy. I usually dont go with the crowd , for example, I should have bought yesterday. But after looking at the chart, I foresee more carnage for the next several days.

Tradinginsider

0 comments:

Post a Comment