anEck Semiconductor ETF (SMH)

[royg1927]

>>>I wouldn't hold it over the weekend. Wouldn't sleep comfortably<<<

Likewise. I'm all in cash virtually all weekends, and most nights, being seriously alergic to downside surprises. I will occasionally hold an option overnight that looks to have a coil ready to pop, and when the important indicators are pretty well lined up against a wrong way move.

I'll touch base with you again next week. Thanks.

BTW, I have a long time acquaintance (and good friend)who trades SMH, both shares and calls, often (actually constantly). He is very active on another board (on which I conduct an options thread) and I have suggested he might like to follow your thoughts, but no go so far. He is a perma bull of the first water and stubbornly rode 200 SMH September 37.50 calls from a basis of 1.14 to worthless at expiration today. Blind spot there, having hit some 2x and 3x home runs with SMH calls previously. Otherwise he makes some money on the long side of tech stocks, his port being up 27% ytd.

Another BTW: My favored options vehicles these days are (mostly): QQQQ, OIH, SMH, GOOG, RIMM, and AMZN. Plenty of volume and high beta. Made some on GLW this week; intraday puts Wednesday and Thursday, and then a nice cash register deposit this morning on calls I laid on in the last hour yesterday. Luck counts; thanks Merrill Lynch. <vbg>