Attack
Here's what I'd suggest. Buy as many July DIA puts as you can possibly afford. Set a contigent stop at any price over 110.94. Simple as that.
Die, bulls, die!
Monday, June 19, 2006
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- Tim Knight
- Palo Alto, California, United States
- Tim Knight founded Prophet.net, considered by Forbes and Barrons to be the #1 technical analysis site (sold in early 2005 to INVESTools, where he is the SVP of Technology now). Tim has been trading actively since 1987 and focuses mostly on option positions. He is a dyed-in-the-wool technician, leaning heavily on marked-up charts for his analysis. The contents of this blog are NOT to be considered investment advice, and you should know Tim may or may not have positions in the securities mentioned here.
10 comments:
Tim:
Out of curiosity, what price level are you buying? 111? 112?
thanks
I agree with a breakdown by the end of the week. But I think we'll still get another push at resistance overhead before that.
Very very very subtle....
Ha ha! Good stuff. My uncle (who's never made money in stocks) is blown away by how well i've done (paper trading that is...I still have no cash). Maybe next week I'll tell him where the true credit lies. Until then, thanks for making me look so good.
- Brian
DIA puts are up about 25% in the few hours since I made this post. It's just the beginning. (As always, just my opinion - - - my guarantee behind my advice is the same price you pay for it: $0.00)
What strike are you suggesting? I can afford a lot of 90's at 10 cents.
probably the 111 or 110, well that's what i bought this a.m.
I bought the 112 since the delta was a little bit better...more bang for your buck.
Tim, where is your green "target area?"
DJIA looks like its gonna go up in the short term before it attracts some intense selling. The intermittent bottom we have is strong enough for a while now.
I sense real anger in that image Tim :)
Brian... keep in mind that paper trading is very very easy and trading real money is very very hard.
Glenn
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