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To be sung "Hey Susanna, don't you cry for ET! Put the losers on ignore and go on a posting spree" :D

No conviction to go long outright other than some LEAPs in some gold stocks (NEM, GFI) but have on a large position of put credit spreads that will pay off nicely if we don't make new lows by expiration this month. After that will reevaluate, sentiment can only drive the market for so long.

ByLo, you may well be right but when volatility picks up like it did the last couple of months it becomes less about the actual numbers and more about sentiment and perception. How else can one account for 3% moves in a day? Certainly earnings didn't suddenly get appreciabely better in that time...

Yes 1 or 2 months sounds like almost a good call but he was also some $30 early if I recall. Too bad he didn't follow my suggestion and employ an option strategy that would have kept him from taking so much heat he was driven from his position at a huge loss. Then again I question whether he...

Gold stocks taking off.

Consider a call credit spread if you think premiums are inflated.

A lot of the gold stocks have pulled back to major support and if they can hold I will start accumulating long dated calls.

Now that you mention it wierd did look a bit weird :D

Sounds like an option writing fund that doesn't know how to hedge its risk, I would dump it ASAP especially in this volatile market. If it was a trend following fund I might be inclined to stick with it but the 2% monthly return gives it away.

AFAIK no one provides PM on accounts under $100K.

Good to know, thanks. Please update us if and when they are available to trade.

Certainly one of the wierder threads on ET :confused:

And yet it did. There is method to the madness but it doesn't lie in logical economic interpretations, certainly not in the short term and not for a move like today's. There is no economic logic that will explain why the market is worth 3%+ more this afternoon than it was this morning, there are...

In an environment where the Fed is giving everyone a pass on pretty much anything, it doesn't matter. Unlimited monopoly money for all. The irony is that Gold took such a beating. I'm not into fading a move like today but bottom fishing some gold stocks is what I am looking at.

I think todays action qualifies.

This is typical action in a secular bear market. People call bottoms. Every time there is a piece of bad news they say "The worst is over, time to buy". Eventually they are right but in the interim short term trading opportunities are created with the short sharp counter trend rallys. It isn't...

Nice, I have a sony Vaio pocket PC but reading long docs on it and newspapers is not very pleasant. My wife has a kindle and reading is a very pleasant experience. Looks like there is nothing out there just yet that combines the two experiences, though doubtless there will be in the next couple...

:D

Yes, Pimpco has been bottom fishing the credit markets for the last couple of months. If things get resolved they stand to do spectacularly well. I would bet they are short long term treasuries along with everyone else as well and a collapse in the USD would give them a big score there too. BG...

USD (index) has lost 10% of its value since the Dec high, couple that with the decline in equities and priced in foreign currency the US equity markets are relative bargains. That has to be putting some kind of floor in the market, that and the low yield on treasuries. One other factor maybe the...