12/17

12/18/2007, at 2:44 am

So much for any oversold rally we have been due for.  All the averages finished the day near or at their lows, and on increased volume.

All also broke down through all of their ST & Weekly MA’s, save the 200 Week.  It’s time to begin building those watchlists of good stocks, suffering most, for next year.  Or, for any of you that trade the short side, begin looking for confirming, or continuing, downtrends.

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We have moved the majority of our positions to neutral for expiration to collect the maximum amount of overpriced premium as possible before Friday.  GS reports tomorrow and it’s anybody’s guess what will happen based on their report.  Expectations seem fairly evenly divided on market reaction, assuming they will report great numbers for the quarter. 

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Other than taking advantage of premium decay over the next 3 days with volatility rising, we are looking toward next year now and assessing current positions and evaluating any candidates for carryover to 2008.

Coach BD 

Filed Under: Past Commentaries