***BUY, BUY, BUY or BYE, BYE, BYE?***

[romik]

Please vote. Even if you are holding long positions and not buying pullbacks, please still vote. It's not so much about the correct applicable wording, but your personal outlook.

 

[Optionpro007]

So you are bearish ?

 

[romik]

Quote from optionpro007:

So you are bearish ?

At the moment yes, you know that. But I have bought SPY Jan 143 calls though as an insurance policy. I am personally relying on a daily divergence, that's my main reason.

 

[eagle488]

In my 401k, I have a load of cash. I have been contributing the max each year for many many years. Im not risking anything for next year.

I am going into 2007 with 25% in cash.

Out of the cash that is left I am going to put 25% in Vanguard Wellington (balanced fund), 20% SunAmerica Value Z, 20% Windsor, 20% Templeton Foreign A, and 10% in Vanguard PrimeCap.

For the rest of the year, I am not going to contribute anything until the summer months. Take a wait and see attitude and then when I feel the market has tanked enough as dictated by a technical analysis of the VTI total market etf, then I will start adding the cash back into the funds I just listed.

 

[wareco]

Don't really wanna make it tough,
I just wanna tell you that I had enough.
It might sound crazy,
But it ain't no lie,
Baby, bye, bye, bye

N'Sync

 

[Tuneman]

its going to be a quiet market going into the holiday season, I think some good retail numbers could drive the market higher, but not by much

 

[HolyGrail]

The more negative everyone gets the greater the chance we won't have a correction anytime soon so keep it up because I'm staying long until the trend is over.

 

[ACM Trader]

Quote from HolyGrail:

The more negative everyone gets the greater the chance we won't have a correction anytime soon so keep it up because I'm staying long until the trend is over.

I am with you. It is amazing how people get excited as soon as there is a minor correction. The S&P closing at 1407 near new highs, the VIX extended (way above 10 days moving average), the end of the year bullish bias, so far pleads for some upside potential. For some reason, a lot of people associate the so-called "smart money" with being short. There is a sort of bravado about it. For me, the only "smart money" I know is the money in my account. And , so far, being long has been the way to go.

 

[JSL_Capital]

romik, a prudent strategy with options as an insurance you got there. I'm naked short YM though, started it on the latest leg up, rolled it over today (got a little lucky on pricing thanks to volatility) and I'm financing it with my winnings on the last 2 swing shorts and some day trading profits. One of these days either my account will get blown up or the Dow will eventually revisit my target of 11750. Your strategy is a bit too expensive for my taste given my size right now. I don't know if I'd be willing to plough 10k into options for insurance when I can just ride out another 100 pt rise with that cushion or even use ES or YM Z6 for temporary relieft if pain gets too strong .

 

[rcj]

No, wait ... We need BlueStreek ....where is he???