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SW MN and Gold Canyon AZ | Im looking at taking my long calls and turning them into puts close to the old highs. Should be able to take the profit and buy 3 for 1. Then IF the market goes through the old hghs then buy short term calls out of the money like a sept. Leave the puts in place for when the market retreats.
gaps are meant to be filled the old saying goes. One has to respect the gaps and old highs.
One thing i remember about old market rallies was i always kicked myself for not buying enough puts on the way up. We know once the high is made it will retrace ALOT faster down then it did going up. Market mentality is to hold hold hold and then try to sell the top, but that only ends up bad because noone is willing to pull the trigger on everyhting he grows once its there.You will end up with a poorer average.
it will be interesting to see if the market blows through old highs. I am sure there will be profit taking at that level.
this type of weather pattern only happens once or twice in a farmers lifetime. What will it take to break this pattern??
The market at the top will move swift and furious. the days with limit up are good days to sell something a % anyway.
Thanks for the charts BLU
Edited by Mlebrun 7/8/2012 10:10
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charts posted
