Zeev's Turnips Patch-No Politics (ZEEV)

[jdaasoc]

I have bearish bias but something like positive MF inflows has got market trending up. McClellan charts are saying don't put on the party hats just yet but get them ready at hand.

http://stockcharts.com/charts/indices/McSumNASD.html

I was looking for 79x-80x before become big time bullish. Since we didn't get more dropoff this week I am back to hedged for Mar options. I am just potentially twiddling my thumbs for 3 weeks until Mar expiry. My best outcome is for no change in market to slightly down. If we go down hard, I just sell APR PUTS or if we go up strongly, I will have to buy soon to be unprofitable calls and sell APR PUTs as market breaks out of 840 range.

We will see.