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Thursday, May 8, 2014

Time to take it on the chin

The market seems exhausted, and Gary of Smart money tracker not only agrees, in his paid service has a variety of reasons pointing to this.  Assuming the market FINALLY starts to head lower, we have gone up for so long, so high, this things may quickly fall apart.

Gary's thought is by June FOMC, we could have capitulation on market deterioration, ready for the next free dollar give away.

I have NOT gambled heavy in years, since 2010 really.  But I am making  a big play for the AM.
I don't know if I'll get these prices, but I am trying.
I advise NO ONE to do this, really, it is stupid.  But when I look at the chart below, maybe not so much.

Options are high risk, I may hit out of all of these by next week if I am eating crow.

Triple inverse Energy - Energy up over 18% last 3 months
ERY Strike June 21st, 17 call, shoot for 60 cents an option at the open, buy 10
Double inverse Oil - When markets fall, energy takes it on the chin.
SCO strike June 27th, 28 call, shoot for 1.50 an option at the open, buy 10
Triple inverse S&P500 - Catch general market fall
SQQQ strike June 21st, 56 call, shoot for 3.90 an option, buy at the open, 10
Consumer good - market falling does not make good for consumer
SZK buy 1,000 shares at the open, market order.

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