Focus On The Long Term
2:30pm EDT: I’m not really watching this mess of a market today as I’m preparing for my three day trip to San Diego. As an added highlight it turns out that T.K. will be in SoCal this weekend and I’m planning to finally meet up with him in person 🙂
In terms of charts – this is the one I want you to focus on – forget about everything else. You know what this is called? The great ‘big boys are unwinding their positions pattern’ 😉
You know what to do – forget about those short term gyrations – focus on the long term. IF we are so lucky to get another rip to the upside today I will use it to add to my growing list of long term OTM puts (about 4 – 6 months out).
Nothing else to say about this mess – it’s the whipsaw before the storm.
There won’t be a wrap up post after the bell today as I don’t have the time. I might chime in late tonight for a quick update however.