Zeev, I note that as of 3:30, CBOE has the equity only put call at .39. That is startlingly low, even for an expiry day, and comes on the heels of yesterday's low reading.
Would a back to back low equity only p/c reading modify your call here? Or just make a slightly deeper pullback more likely? Or. . .none of the above <g>
zeev, i did not "get at any poster's throat" or state that it is "wrong" to question others calls. I questioned how one poster's emotional outburst stating that some other poster's call was the "worst" he had ever seen, is productive to the purported purpose here of pooling ideas and talent to make money. i am disappointed to see how much this thread has deteriorated over the past month. its great to see different approaches and opinions. thats what makes a market. i fail to see, however, why some feel it is necessary to make personal attacks.
Imho, without expiry tape painting, next week is the critical test of how far this rally goes. If we are going to have a "severe" retrenchment, it will be between here and the 29th, after which there will be some month end fund manipulation. I have two questions: how much more likely is a slide to 1308 vs. a slide to 1260ish? Will a slide to 1260 make the scenario for Sept-Nov more or less bullish?
You are awesome. Better than your calls is your temperment. Nice to see you work.
That low P/C ratio has me thinking big dip coming but am not sure it counts in expiry week. Also IBM above its 50 dma for the first time since early this year has to be bullish. It may fill that gap in the high 90's. Many stocks testing that 50 dma. Some like CAH just kicked the crap out of it and now above 200 dma. I am a little weary of QLGC; that dip to 30 may have fulfilled your 28 target? I went long QLGC a few measly shares on today's re-trenchment but I still see 40 as this big bad steel wall.
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