Replies to post #26793 on ETF SWING & DAY TRADING

[ocularvision]

meatfillboy

"many here said

[ocularvision]

meatfillboy

"many here said dow doesn't lead markets".....that's 90-2000 speak. go look at all the sub-indices like steel, restaurants, rails, casinos, basic materials, construction, metals,mid,rut,bkx,crb,coal,oil drillers,hmo's,insurance,xbd,consumer cyclicals, consumer non cyclicals. even the ixic is holding it's own....

why do you guys bury your heads in the sand with just the q's, ndx? look at the entire structure of the market. follow indices and subindices and find stocks in those and trade them....

[SyndicateTwo]

I think that would be a 'strangle', not a straddle. When you buy both sides of a strike price, that's a straddle. You are 'straddling' a specific strike. When you buy an upper call strike above the current price and a lower put below the current price, that's a strangle. You are 'strangling' the stock in the middle.

I think both are bad ideas here because whenever you are going long any option position, you still need a definite move in one direction or the other. The way this market has been, I think it's just going to fight around the same area with really no trending. That means you only want plays where time is on your side, and that means any option play should involve a shorted option, such as spreads or all out shorted options.

The only problem right here is that the market looks to want to go either way. It's got the best of the best scratching their heads right now. I know, I read them all.

Honestly, I think the real problem here is the amount of program trading that is just playing the market back and forth. Until the 'generals' step up, you can forget about any kind of move in either direction. And that means sitting on your hands. Cash is a position. It just sucks. Even daytrading is hard these days. I go hours without a signal. Geez.

I really do think that April we get a new high in the DOW probably, maybe even a small new high in Nasdaq, and then timber!

We'll have to wait until June.