Buying Swing: Now that we entered the long leg to 158 pDS

[MMASSASSIN]

Buying Swing: Now that we entered the long leg to 158 pDS at 1.07-.13 with a .20 spread in mind (CREATING A STRANGLE) we can wait for direction since we still have over an oversized profit since the 158.50 calls position was at .97-1.04 with a 22 cent spread in mind. the intention here is to have 2 very aggressive bets hedging themselves out as we have lost the small intraday ascending trend line, and we failed to pass 157. Once direction is clearer on markets and , then plan on entering the short leg on the play play in danger and ride the opposite side into the close before entering its short leg. If the market could push higher and passed 159, then there are a lot of shorts that were trapped yesterday when we fell bellow the old 2007 highs and into the more significant support at 155.40 that was never reached. Thouse shorts plus the bearish sentiment from last week could lead to a short covering rally on and markets especially if the fed clarifies ints statements and says there will be no slowing down of bond buying till we get bellow 7% unemployment. Such a statement from the fed could rally the markets and in a big way.

This trade is one part of a larger strategy so please look back at Previous posts to see the whole picture. AND IF YOU ARE NEW, PAPER TRADE FOR AT LEAST A FEW MONTHS because this is ADVANCED OPTIONS TRADING !!