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Monday, October 02, 2006

Stock Market Oct. 2, 2006

I bought puts on the OEX this afternoon.
October 615 Puts Ticker Symbol OEYVC
1:36PM OEX value 621.75
Price $3.00 (at time of order $2.90 bid x $3.00 ask..placed limit order at ask)
They expire Oct 20. (3rd Friday) I expect to own them only a couple of days.

If you are interested in learning more about stock and index options please visit CBOE.

As earlier posted I believe the market to be over bought and the easier direction to be the same or down. I don't normally like to hold over but am curious as to what the news will bring in the morning. There are very few larger names reporting earnings this week. (needed for bullish behavior) Based on the giveaways with trucks and cars....hard to believe that the numbers will be great tomorrow morning. (I am wrong frequently) Factory Orders are due out at 10:00 in the morning...if down...then more down markets. I see more down than up...hence buying the puts.

Please, make no mistake....I am wrong frequently...but trying to learn.

Could it be a democrat strategy to sell the market between now and election??? time...hmmm...(ROFL)

Ideas and thoughts appreciated.

2 Comments:

Blogger meblogin said...

...sigh...

Do not daytrade and then go play golf.
Do not daytrade and then go play golf.
Do not daytrade and then go play golf.

I was up nearly a dollar...now..down $1.50. Tomorrow is another day and I still have a ways to go with my education...smile

October 4, 2006 at 9:53 PM  
Blogger meblogin said...

My puts continue to hold around $1.30...sigh...

October 6, 2006 at 8:12 AM  

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