The market is making it's bear run in waves, rather than huge drops. Yesterday we hit highs of 11,366 and lows of 11,191. Traders holding the November 550P could have bought intraday from 13.95 selling to 15.10 or doing what Level 3 subscriber did:
Floyd,
You always respond promptly. Here is my trade summary:
Bought OEX 550 NOV puts at average of 7.5 =>> Closed/Sold at 9.2(liquidated yesterday); Bought OEX 550 DEC puts at 10.9 =>> closed/sold at average of 15.0 this morning.
This covers some of my losses from Jan-March of 2010. My long term plan is to study well and get in the game.
Thanks,
Deepam
Deepam is a subscriber that has gone on "hold" with his subscription because he suffered real losses in the early part of the year. I recommended extensive real time paper trading, and he just began writing me again. Here's his trading, a perfect example of how to make profits a number of times.
We continue to hold the call,and have not made a second buy. Let's see what today brings. Read option sale instructions carefully.
___________
The primary question asked me by all subscribers:
"How much of your success is your "disrespet, contraian and stubborn points of view that we all have to put up with?
I'd say about 50% is based on disbelieving the concept while it is being explained, and knowing that most of all I hear is a con game.
Con game life has been how I have seen the consulting business in approaching a client, how the most adept traders work, where they just tune int"
Good question.
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