SPDR S&P 500 (SPY)

[risk on]

You read my mind on oscillators, right now it's not an easy choice going off the 3-12 month daily because oscillators are middled, and by all cyclical inclinations are due a day in overbought here. They got obliterated on the major sell off, yet never cycled back up, even on the bouts at 200. Logic dictates oscillators are more probable to head into overbought, on the fractals mentioned prior to any revisit into oversold, but that's a guideline , not a rule ( like the Pirates parlay rule). That said, it would not surprise to see a charge into overbought before end of September, but I have very little doubt the month of September ends red as compared to August close, because of that Ten Year T LINE. So, if spy starts a little run, breaking through 200, it looks to land in overbought ( factoring time and price ) at about 204, which coincidently is about right where that Ten Year T Line sits at the moment. So, holding puts sounds fine, as long as the dates are far enough out, and then it's no stress on any temporary moves. I have been a pure trader the past few weeks, with a bias to the put side, but that style needs to wrap up before long, and focus on what I KNOW the long chart says to do, and that is load LT puts, put my balls in my hand and tune out the noise, until that point in my chart is reached. That is called radio trading, meaning one can just listen to the stock report on the radio and have a hugely successful trade. Lot less stress that way.