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Again, don't short at least not until the trend line broken. Today bull is strong.
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Thanks balance for your reply.
Sold 1/3 of SINA for a nice profit. For the rest, I sold March's ITM (85) covered calls.
Also sold ITM(80)covered call on SOHU I bought yesterday.
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The Fed's purchase of $7.657B in Treasurys of $29.504B offered - including more than $7B worth of last month's seven-year note - hasn't lifted the government bonds today, with yields +0.03 across the board. The 10-year note yields 3.544%.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
The Fed's purchase of $7.657B in Treasurys of $29.504B offered - including more than $7B worth of last month's seven-year note - hasn't lifted the government bonds today, with yields +0.03 across the board. The 10-year note yields 3.544%.
Agreed, don't fight the market. Since I longed SINA, I started to recover the losses early this year in shorting the market, almost even now.
I like Cobra's approach, just read the market, not predict it in the long term.
But really appreciate all you guys inputs, it's great to see experienced traders make their calls...