The TOUGH go to Tim Knight, founder of Prophet.net and my FAVORITE Bear Blog, The Slope of Hope. Tim is an Uber-Bear, so he THRIVES on down markets, so in my opinion, it is a GREAT place to find shelter (and get some awesome Bearish ideas) in turbulent times like now.
I am in all cash right now, with the exception of VLO, which I have held a long time, and will continue to hold and sell Covered Calls. However, if this is the start of a correction (and there are a LOT of broken support lines today), then it could ba a time to back up the truck and wait for some excellent buying opportunities.
If this seems to be a longer term Bear trend, and you don't like to short the market or buy Puts, you can always buy the Bearish ETF's: DXD (Dow), QID (NASDAQ) and SDS (S&P).
This also may be a good time for some "Dead Cat Bounces," stocks which get pummeled in earnings (or get dropped for no other reason but the sector/market tide is moving out), but end up rebounding a few points a few days later.
Let's get some ideas out there for the group to analyze some trades and put our collective heads together and make some MAAAAAAD MONEY! (I made a LOT of $$$ using the "Force Index" indicator which I never knew of until I attended April's meeting...so yes, we ALL can learn a little something together!)
Remember....ALWAYS, ALWAYS, ALWAYS manage your risk!!!
Happy Trading
Subscribe to:
Post Comments (Atom)
1 comment:
Hi Andrew,
At our last meeting we decided to identify and try to paper trade a Bull Put Spread. I was looking at PG to try this strategy as well as an Iron Condor strategy.
Like to have your thoughts
Keith
Post a Comment