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View Full Version : Mark - you see what happened to the futures when China reported?


gates
June 30, 2010, 23:14
China reported a miss on PMI and the world took a dump - S&P dropped 10 handles immediately - how long do we have Mark?

Enquiring Minds
July 01, 2010, 11:51
Well, I'm not Mark, but... I'd guess that when the world's largest consumer of raw materials, high technology, and machine tools, turns down, the suppliers of same are going to follow... at least until Obama puts on his cape.

gates
July 01, 2010, 16:13
shit - ISM bombed, new home sales tanked, unemployment numbers jumped - ALL TODAY!

renaissance_warrior
July 01, 2010, 21:56
This will be a long answer, but unfortuantely, I need at least a week of market activity to accurately respond. The indices are new to me because of the political interference to normal market activity. Sit tight, write calls to cover your long exposures. Don't short, the premiums are to high right now.

M2MG
July 01, 2010, 22:01
Sell the calls to pay for the puts. Jump on in, the water's fine, this chance doesn't come around to often.

M2MG

renaissance_warrior
July 01, 2010, 22:29
Sell calls, but puts are too high unless you are the writer of same. Cover your bets, but don't buy outside your own store.

gates
July 01, 2010, 22:43
I think we are due for a fairly sharp relief rally into next week - maybe 1050-1080 on the S&P then we shitnap into the 900s - i went pretty flat today, went long some front month Rimm calls and a few jan BP puts from last week - other than that - flat as a board - REALLY want to get a big short position established but not at these levels tho the VIX did come in a bit today - wild mkt.

renaissance_warrior
July 03, 2010, 10:14
Well, it looks lit it's time to be a contrarian here. I like BP December calls believe it or not. The November elections alone will be a huge boost for them, perception-wise. The 'boot will be off the neck' so to speak politically, and that translates to a tangible economic benefit.

gates
July 06, 2010, 20:43
Assuming we don have a "blow the oil to Ohio"type storm:-) not that Id wish for that. based on todays action your call would have been the profitable one - my puts are Jans so I have lotsa time for BP to blow up.