I must fade the ridiculous RECORD CLOSE “BUG” on CNBC and just bought some SMH, SPY and FDX in the money Feb puts. Premiums are really low which likely means I am a sucker. If the shoe fits…
No real reason to get aggressive here other than to fade the putz’s at CNBC and I have been eyeing this trade.
As I said a few weeks ago, I am getting off margin every day and will have 20-30 percent cash by earnings season.
As Todd Harrison mentioned in his very good Wallstrip Interview, the DOW may be at an all-time high, but few feel richer. I am long Todd this year not so much on his opinions but his skepticism. I am in a show me mood for 2007. That goes for Web 2.0 and stocks. I want everything to work out, but the good cards have been dealt and lots of money has been made by a few and let’s see if the masses can get some in 2007. Color me skeptical. Sorry.
All that said, please get into my paired trade contest. NOW!
Here is Todd’s Interview again:
Good timing on those puts.
I totally agree about that stoopid CNBC ticker. If they’re gonna do that they could at least do it for a “real” index, like the S&P 500