As the market showed a mild whipsaw around pivot and support and resistance lines we were able to sell our open call, bought at 9.00 yesterday for as high at 10.80, for the 20% we were looking for.
We saw the same support and resistance lines and the same struggle. Remember, we have to see a 230-245 drop to generate a bear shift and we see a deepest bottom near 11,127.
Puts are waiting. Their time will come. We will keep the call position open for both new buy, below prior day close, and to hold for future profits.
We are listing a December put. Only enter if you see news-bytes trigger futures and futures show hesitancy.
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Has anyone thought of the revolution in the labor force that will occur when the baby boomers hit the time when the charade is up, they are living with children, who are doing poorly, and health insurance will fail them without controls. This is actually considered by some to be a pre-mediated move from "the middle class shifting to the lower middle class" and accepting it, while the poor accept worse, and the entire spectrum shifts to an elite oligarchy.
Great sci-fi plot and half true today.
I listened to former President Bush, out trying to sell his book on TV last night. Every morning he reads the Wall Street Journal, that's it, and it shows the intellect we had in our White House.
The WSJ is a Murdoch paper, so he is reading exactly what he wants to hear, slanted to just the direction he wants.
Funny few remember what he wrought.
The selectiveness of our collective thought as a nation often frightens me. We may not "get it."
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