Chartists Starting to Really Argue

Chartists are now starting to really argue. Is the world to end, a huge correction, or is a oversold move now just down a bit. At BlueChipOptions.com we've made some great money recently recommending soft commodities, such as Mosaic (MOS) and Monsanto (MON) and profiting on both.

Many of our traders follow futures and try to study with us when futures "mean something" and when they are meaningless. For example, this morning we saw lightly fluctuating futures, with only a modest up side. And the reading at 9.32 and 9.35 showed even more "no bias."
As we are playing only the call, for what we think may be the "last top," it was easy to watch the market to wait for best buy. Yesterday, by 3.21 p..m. using the theoretical Dow we went from highs of the day of 10,535, to lows of 10,454.

Traders that had held our August500C came close to our top sell, when it reached $14.00 yesterday. We believe we have just a bit more upside, and will hold any open position to the call, and not yet take a position to the put.

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32.07% was the implied volatility of the equity market for June 2010; this is an important fact as it was the 4th consecutive monthly increase. We're certain July will be even higher pointing volatility, showing the "intensity" and uncertainty of this market.

Last week Big Ben Bernanke, the son of Bubbles Greenspan, told us "the economic outlook remains unusually uncertain. If the recovery seems to be faltering, we need to at least review our options."

This prompted FEAR, GREED, and more FEAR. Republicans, those that protect our assets so well, immediately say "stimulus not working," and "look at the debt being built up."

Pee Partiers are reading the Constitution to see where it talks about stock trading and derivatives. Democrats are haunted by seeing nothing truly ever work because nothing is ever really executed.

Floyd would like now to explain Big Ben's statement to the fragile "Everyman:" "We have not a phucking clue what is happening. If the recovery doesn't make it, we'll have to stimulate the economy again, as unemployment will only rise, while the large corporations make more money."