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Honest Now
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Honest Now

Honest Now

by The MoleMay 30, 2012

It’s early in the session but I thought I’d chime in real quick as we have some movement. Now, I hate to quote myself (not really) but alas:

I think it’s great to be short here until we push above that 25-week SMA at 1336.

And I admit that this may have been a scary trade but not really if you kept an eye on the spoos and set your stop accordingly. Where are we painting right now?

Honest now – who of you guys took this setup? I want to see hands – especially you subs. Anyway, I think I’m pretty comfortable with taking profits right here and now. Truth be told it was a small position as I tend to listen to my own advice, but…

… given a 11% jump in IV my OTM puts are looking rather sweet.

I’ll put up another post later but if this holds through the EOM then it may have medium to long term implications.

Carry on!

About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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