NDX
- Thread starter iceman1
- Start date
Quote from iceman1:
was it good for YOU TOO
was that the shortest correction on record OR is ther more to come >> after all it takes a while to distrbute all that stock>> so this action if fitting! new highs are not out of question >> certainly a re-test is doable!
okay ICE pony up and make your next call (ya it was pretty good)
wow
i was scaling into January NDX puts but failed to do quite enough since my bias was for ndx to remain near the highs possibly making a new high by year-end (THEN conveniently sell-off for me). of course i didn't consider maybe we sell off into expiry and THEN rally back.
I had bought a larger # of Dec 180c (have other strikes out to March + and -) and played games selling them on the recent POP...... can't be perfect; fine line between not letting profits dissipate and letting profits run. In hindsight wish i had closed the 180c rolled out and kept front short calls; it was part of a makeshift backspread with dec 175c so i decided to hold.
at this point i don't have a feel for what is next
and would love to hear some thoughts on NDX.
just gonna go with the flow and try to extract some + $
my gut is we will be much higher next week. what i don't like is GOOG's downside "potential" perhaps dragging market along.
i was scaling into January NDX puts but failed to do quite enough since my bias was for ndx to remain near the highs possibly making a new high by year-end (THEN conveniently sell-off for me). of course i didn't consider maybe we sell off into expiry and THEN rally back.
I had bought a larger # of Dec 180c (have other strikes out to March + and -) and played games selling them on the recent POP...... can't be perfect; fine line between not letting profits dissipate and letting profits run. In hindsight wish i had closed the 180c rolled out and kept front short calls; it was part of a makeshift backspread with dec 175c so i decided to hold.
at this point i don't have a feel for what is next
and would love to hear some thoughts on NDX.just gonna go with the flow and try to extract some + $
my gut is we will be much higher next week. what i don't like is GOOG's downside "potential" perhaps dragging market along.
Quote from iceman1:
12-07-06 07:52 PM
i was scaling into January NDX puts but failed to do quite enough since my bias was for ndx to remain near the highs possibly making a new high by year-end (THEN conveniently sell-off for me). of course i didn't consider maybe we sell off into expiry and THEN rally back.
I had bought a larger # of Dec 180c (have other strikes out to March + and -) and played games selling them on the recent POP...... can't be perfect; fine line between not letting profits dissipate and letting profits run. In hindsight wish i had closed the 180c rolled out and kept front short calls; it was part of a makeshift backspread with dec 175c so i decided to hold.
at this point i don't have a feel for what is next
just gonna go with the flow and try to extract some + $
my gut is we will be much higher next week. what i don't like is GOOG's downside "potential" perhaps dragging market along.
well we got higher but not "much higher" (as i thought 185 was doable); of course there are still 2 weeks left to make it back to highs! i should have sold the 180c first time they got >2 and/or bought more when they got to .50c. that's the trouble with spreads that aren't set up correctly > you face decisions whether to lift one side and roll or stay naked for a time.