DOW Below 7000 & This Week's Play
Posted: Mon Mar 02, 2009 6:40 pm
Salams All,
I'll be back to the wr zone tomorrow Insha Allah and anticipate the DOW to further go down a little. Not a good sign & psychological barrier. 6500 is my next break barrier, this week should be interesting. The Asian markets futures are already down.
Overall I am going with these slots:
*Buy C tomorrow with stop loss of $0.85. 200k shares.
*Use SKF for hedging against financials.
If S&P dips below 650 or VIX rises to 60, I will long insurance and metals, short small cap gold.
Overall I'll still be 50% cash.
Others. Good luck fellow traders.
PS: Another reason to buy Citi for those willing to play hard and wait for a decent bounce, Prince Al Waleed is confident in Vikram Pandit and I seriously doubt Citi or the Rich boys in Wall Street can afford to piss him off. He always comes through and did come through for last two time spikes.
http://www.huffingtonpost.com/2008/11/2 ... tml?page=2
I'll be back to the wr zone tomorrow Insha Allah and anticipate the DOW to further go down a little. Not a good sign & psychological barrier. 6500 is my next break barrier, this week should be interesting. The Asian markets futures are already down.
Overall I am going with these slots:
*Buy C tomorrow with stop loss of $0.85. 200k shares.
*Use SKF for hedging against financials.
If S&P dips below 650 or VIX rises to 60, I will long insurance and metals, short small cap gold.
Overall I'll still be 50% cash.
Others. Good luck fellow traders.
PS: Another reason to buy Citi for those willing to play hard and wait for a decent bounce, Prince Al Waleed is confident in Vikram Pandit and I seriously doubt Citi or the Rich boys in Wall Street can afford to piss him off. He always comes through and did come through for last two time spikes.
http://www.huffingtonpost.com/2008/11/2 ... tml?page=2
