Damn, they screwed up my whole Buy List already with their silly Trillion Dollar bailout over in Europe!
We are NOT chasing!!! We picked up plenty of bullish positions last week on the dips and, thank goodness, we held those DIA $107 calls over the weekend - those should be MONEY this morning! What else did we buy last week? Well these were plenty of buy/writes, both natural and artificial - as I said in Friday Morning's post:
That’s what we do at PSW and today is a good time to review my "How to Buy Stocks For a 15-20% Discount" where we reveal my secret hedge fund techniques. Why do I do this? Because the people who put money into a hedge fund don’t do it because they don’t know how to trade - they do it because they are busy making other money or enjoying their lives instead of putting up with this market nonsense every day. So those people pay someone like me to manage money regardless of whether I tell them my "secrets" or not - the people who tell you their fund only works through secret techniques, to me, are suspect....
Due to ridiculous regulations, it’s not realistic to set up a hedge fund for small investors so, for what it’s worth, I do my best to teach people how to use these strategies in their own trading. The BEST time to do this is when the VIX is high and I WILL be putting together a Buy List this weekend to select a couple of dozen sticks (we already grabbed 5 on yesterday’s dip) that are good candidates for the hedge.
I strongly recommend that anyone who has ever considered options at least try this strategy with one stock in your virtual portfolio.
