InvestorsHub Logo
icon url

u238ed

01/08/16 10:57 PM

#176939 RE: Perseverance71 #176938

Well, I'm buying puts. So there's that.
icon url

thunderbird2004

01/08/16 11:01 PM

#176940 RE: Perseverance71 #176938

Well, I would say BTD is different from "playing the bounce" as most are doing here. I am still bearish, but outsmarted myself and ignored the big picture. The fact you made profit is already good, I made an even worse mistake - I posted this on 1/4 and made the exact mistake that I said to avoid:

"Does today's EOD surge make one think twice about holding onto puts in the future? The thing is I still think SPY should visit 180 some point this year based on all the crap that's happening fundamentally, but this surge may be in the back of my mind making holding onto those puts a bit harder, and may eventually cause me to miss the drop."

Told myself SPY should visit 180 sometimes, and did not hold onto my puts but instead tried to play the bounce. If it makes you feel better, this is what I had at the beginning of this week in my portfolio that I sold way too early:
5 CMG 480 1/8 puts
5 AMZN 725 march puts
17 CVX 94 1/8 puts
70 SPY 202 puts 1/29

I missed out on all those gains. I think mostly closing the put is nervousness about the bots, as opposed to wanting to buy the dip.
icon url

ChipTFM

01/08/16 11:09 PM

#176941 RE: Perseverance71 #176938

15 year weekly isn't overbought anymore. RSI and STO are around 50 or below. Even MACD is underway it's pinch down. Not saying the consolidation (downside) is done yet but I believe we are well underway. The chart was once overbought until the down trend started last year.