Monday, February 1, 2010

Market analysis

I am not an expert in technical analysis, but here is some basic analysis that I think might play out. And I am putting together a game plan if this unfolds.


  1. Just came accross the twitter feed.

    From Scott Redler at

  2. Just read this post on IWO -->

    This is a nice quick and dirty method, kind of back of the envolope type analysis.

  3. So today we had a nice bounce continuation right into the area where I wanted to try and find some short exposure. About 5 minutes before the close I looked up those $108 puts that I had already played a few times for a small profit. I sold them last time for about $2.30, today I was able to buy them at 0.97. So I bought a starter position with 5 SPY Feb '10 $108 puts @ 0.97.

    As I pointed out on the chart, I am looking for a bounce into the 110.5 - 111.67. Today's high was $110.59. So if we do get a move higher I am willing to buy another 5, but not sure at what strike or expiration yet. I will evaluate that when/if we get there.

    I am once again in a Delta Neutral position. Actually slightly negative at -11 Delta beta weighted to the SPY.