gfp: Well I got the mini rally I was hoping for to load up on some more LEAP Puts. I just pulled the trigger on 70 contracts of the XLF $20.00 Puts for $123 per contract. I had $9 K from a ETF sale (I dumped some KOL. I don't see coal doing well in the face of a worldwide economic contraction.) now hold 145 contracts at all strike prices from $22 to $18. Going forward I'll use any day with market strength to pick up more PUTS. Expectations for GDP are dropping weekly. Retail is dead. Homebuilders are seeing weakness. Consumers are tapped out. Delinquencies are rising in sub prime auto and in student loans. If the market holds true to its past history of 3 Fed rate rises causing a market downturn 40-60 days later then we should see real breakdowns by the end of this week into next week. And I haven't even mentioned all the geo-political minefields out there, including the possibility of a true Communist winning in France. (Melanchon) who wants France out of the EU and NATO. I'm really getting the sense that this is presenting the best shorting opportunity since the dot-com bubble burst.
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