But hey, if you do get a bearish market, then don’t forget to mention that you were told first hand here at OptionPundit.
We are close to disastrous situation, Yesterday markets closed almost in the range that I highlighted in Nov 18 post. Net, here we are with a bear market signal. Very close to some extremely strong support areas 7,000-7,400 for a bull market that started from 1930s to 2007. I shall caution to stay away for a while till Mr. market make-up his mind.
I warned in Mid Sept’08, and OPNewsletter stayed away for Oct’08 portfolios, preserved capital by allocating almost 1/3rd of capital only and been reinvesting since then. Though results are not that spectacular, but nevertheless it is an outperformance in the face of tough Market that we are facing. We have opened 2 portfolios for Mar’09 yesterday and will soon be opening more. If you are interested in joining, pls click to know more about OPNewletter.
Hope you are on InvesCafe, this is the place I use for short updates for intraday trading opportunity. Just yesterday alone, I shared 3 intraday opportunities (VIX, HPQ and AAPL) all three registering good gains. It’s a great tool and I have been using it for while. Check this out for how many profitable alerts I shared over past few days. I shall encourage you to sign-up and start using it, it’s wonderful tool. All my InvesCafe updated are posted to Twitter automatically as well.
Today is US Equity option expiration day, and also CPI data will be released at 8:30 US EST. Expect the volatility exacerbated by already <7,500 level. Stock pinning, cheap options and lot more to trade, but trade carefully.
Profitable Trading, OP