addressalign-toparrow-leftarrow-rightbackbellblockcalendarcameraccwchatcheckchevron-downchevron-leftchevron-rightchevron-small-downchevron-small-leftchevron-small-rightchevron-small-upchevron-upcircle-with-checkcircle-with-crosscircle-with-pluscrosseditemptyheartexportfacebookfolderfullheartglobegmailgoogleimageimagesinstagramlinklocation-pinmagnifying-glassmailminusmoremuplabelShape 3 + Rectangle 1outlookpersonplusprice-ribbonImported LayersImported LayersImported Layersshieldstartickettrashtriangle-downtriangle-uptwitteruseryahoo

New York Options Traders Message Board › Pullback

Pullback

This message board is read-only.

Rob
user 3749118
New York, NY
Post #: 1
S&P,Qs and Russell 2K are showing up short-term overbought here and the uptrend is vulnerable to a pullback. Any violation of the most recent uptrend chart line would do it. Post Thanksgiving markets for stocks are historically strong I think based on bonus expectations which this time around are very weak. Gold looks to be entering into a new bull market but is overbought. Oil looks weak to me and is also overbought. Stocks look like they are forming a longer term bottom and could rebound in the last weeks of December. Strong negative events - the failure of a big financial house anywhere would, of course, overrule any hopeful trend in stocks or oil.
Eric N.
enovik
New York, NY
Post #: 13
Rob, interesting commentary.  Do you have an options (or other) play in mind? If you post one, we can comment on pros and cons.
E
Rob
user 3749118
New York, NY
Post #: 2
I'm using 200 shares tWM (ultra Short) Russell 2K. Plenty of action for me for now. I still maintain a long hold on some positions such as PM, wmt, afam, MMM, sil, drooy. So the TWM is a hedge. I have been considering options but am just afraid to use them in this market.
Powered by mvnForum

Sign up

Meetup members, Log in

By clicking "Sign up" or "Sign up using Facebook", you confirm that you accept our Terms of Service & Privacy Policy