Thursday, August 14, 2008

And Yet the Box Remains

Until a few days ago I was confused by the higher lows traced by the tan line. Some thought it bullish, some claimed it to portent doom. Either way it all points to witching hour: tomorrow, options expiration Friday. I do believe, however, that this is the ole bear flag. My guru, Tom O'Brien, say we're going downtown!

I'm glad I grew the nads to close out of my SPY 130/132 bearish call vertical in my real money account last week for a small loss. Good ole Investools did that for me. Previously (in May/June) , I had just stood there like a deer in the headlights praying for the market to turn away from my precious $.36 credit verticals. Instead of taking a $.70 - $1.00 loss I discovered the roll button and doubled my losses the next month. How about them apples?

Its only when I got kicked in the face that I ponied up for some edu-MAH-cation. This self flagellation, posted to the world is quite necessary before posting on any winning trades.

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