Replies to post #78 on Collective IQ Traders Group

[gtober]

I think I'm gonna buy this dip. But, not here where we're oversold on the hourly. I want oversold on the daily. Hope it comes. Even if we are in a new downtrend, that's usually good enough to get a profitable bounce. Given the summations are still pointing up, and the $NASI is off an extreme reading, I can't rule out new highs after a correction.

Have to take it one step at a time. For now, I just want some tidy profits in the hedges I initiated.

Hard to believe how weak NEM has proven here. My hedge is a double for now, but hasn't protected all my profit. It should bounce here.

[gtober]

You know, I've been watching these KKD options for a while now. I have written the $10 Aug Puts. In the past week or so, the time premium has eroded from around $1 to around $0.50. This is good, but I am beginning to wonder if something is up. An erosion that quickly is not normal. There are still two months left on the option, after all.

What chu think?