October 28, 2009
– Comments (8) |
RELATED TICKERS: SPY
I said I'd buy into this market if the S&P dropped by 1.5% today. It did, I'm in and so should you.
The time to buy "puts" is now... though prices are rising fast.
goldminer do you have a concious? Why would you tell people to buy PUTS after the market has already corrected 10% buying puts now is a sure way to lose more money.
I think things will get worse before they get better. I am not selling, just holding my new money on the sidelines for a few days.
I believe you're on to something FreeMarket.
IBD - some people think we're going to correct way more than 10%. Why on earth does GMX having that opinion make him a bad person? You could say the same about FreeMarket suggesting that the time to buy is now after a 50% rally off the March lows. You should probably reflect on the bias you have just shown; it may make you a better investor.
To be fair, I am selling some November puts on the QQQQ and Conoco I acquired on Monday, however I am rolling the profits into bankruptcy puts on major banks such as WFC and USB.
How can you buy now if the evil duo GS and JPM are shorting the market?
GS cut down GDP growth. They probably think the rate of USD dropping is slowing down.
JPM is shorting precious metals like silver ...