I Treat the Options I Own as if Selling Fruit

The market was clearly on a negative bias with futures and "news" and no traders should have entered on the call. The Oct490Put was profItable to 4.50. Most traders have now exited this position profitably. We'll list and hold it today, for sale by end of day. It is likely we could have an overall 239 point drop overall from market highs, or a 584 point drop. We'll see how strong the bulls really.

I follow Dow theory and the chartist below mentions the market is not yet a buy signal to the Dow theory, however drops are less, and the market appears to be "waiting."



Chartists shared with the world:

-- NO DOW THEORY BUY SIGNAL YET
-- TRANSPORTS HAVEN'T CLEARED AUGUST HIGH
-- SMALL CAPS HAVEN'T BROKEN OUT EITHER
-- S&P 500 RETESTS NECKLINE SUPPORT
-- FALLING US RATES HURT DOLLAR
-- FALLING DOLLAR BOOSTS COMMODITY ASSETS, FOREIGN CURRENCIES, AND AND FOREIGN STOCKS
-- S&P 500 WEEKLY MACD LINES HAVE TURNED BULLISH

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Well, the Republicans have finally told us what they will do:

http://noir.bloomberg.com/apps/news?pid=20601087&sid=aCjfPtAA5lMc&pos=8


This is the most frightening and short sighted thinking to benefit the rich and large corporations I've ever seen.

Makes me want Christine O'Donnell. She knows what masturbation does, and what you just read is mindless masturbation.
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It's my last day of vacation. I was looking back at what I wrote in my OEX commentary yesterday. The rules listed were most of what I do to win, and win well.
I set stop losses and never fail them. I almost always buy below prior day close. I study my emotions carefully as I watch 1 and 5 minute Pnf charts or as I simply watch the numbers.

I try to "fall in love" with at least, if not two options for as extended a period as I can find. Falling in love means all I do is watch this option trade, the volume, the bid vs. ask, and pit myself against the seller or buyer, depending upon market conditions.

I treat the options I own as if I sell fruit.