I like options at the begining of a a trend shift. Right now I am looking at the NDX dailys in relation to some tech stocks, tracking their reaction to it's weakness and rallies. Last week, I was focusing on BRCM, and it trails the NDX in strength, and sells off harder, a very soft stock, imo. I think the mk't might get one more push, like a blow-off, but its arguable that this already happened last week, with the nice gap up, wed I believe, and then later day sell-off happening off no news. That to me is telling. Right now I'm short, and eyeing May puts, but will probably also flip into friday the Jan options, especially if we see good volitility.
imho, Jerome
