Tuesday, February 14, 2012

SELLING THE RALLIES

Hi Folks,

Just sitting down now in front of the computer for the first time today. My bias remains the same as it has been now since I blogged about it on 2/8 BOND AUCTION, I am selling the rallies. Major selloffs take a while to form. There are many warning signs prior to a major selloff like we had this past summer. Those signs are not in place yet. So to be clear, I have had a short bias since 2/8 but it is not the looming crash in my mind.

Thanks and Good Trading,

Tim

2 comments:

  1. Tim,
    what just happened to the market?
    HH

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  2. HH,
    Don't know of any market specific news. My take is that we were overbought on all te short term indictaors I use. If yo follw me on twitter you saw that I bought GOOG puts right before the meltdown. The technicals that I use are primarily Stochastics,Macd and 2 moving averages(34,81). I saw the setup so I took it. I sold half the position for a double so now I have a free ride on the other half of the puts.

    Tim

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