Well, it has been a wild week to say the least.. It reminds me of the grand finale we all experience on the fourth of July... just 1 firework after another, in random order, but, you know the end is near because of the velocity of the fireworks...
so, having dropped 1000pts this week alone in the DOW, one has to think, this IS THE BOTTOM. Yes, FINALLY, I think we have arrived.
So, while we were falling this week, I was nibbling on some FSLR, X, PFE...I blew the trade of the century, which was to buy deep out of the money calls in the financials for a possibility of a major announcement... When I was at work this morning, I saw GS at 87, I thought, wow, this cant go lower... But, work got in the way, and I missed THE trade...which would have been to buy the GS SEPT 100C or 110C for pennies...ah well..
So, The market will gap up hard tomorrow...will be tough to buy and hold after up 5-10% at the open... I will hold tight for 30min..
I really like EEM, someone bought 10,000 OCT 35C's for 1.35 this am.
SMH JAN 26C were bought this week for a buck...
tb
