The Buy the Dippers Aren't Ready To Give Up The Fort!

No they're not!  They seemed to be buying the dips once again even though the Japanese Housewives went wild with a -4% overnight drop.  I kept my objective in sight and didn't give up on my put buying spree either.  I got right on my bike and I daresay I want to be like Mike (Khouw) - in terms of profit-taking that is!  I'd like to experience a +800% winner too...

It's anyone's guess what will trigger a major sell-off when the buying has been so fervent, but if everyone announced when they were selling into the highs, we'd all be a lot richer.

I'm not proud that I let some of the profits from my SPY puts retrace, but I'm waiting for the break below the SPY 25 SMA of 1676.68 and SPY 50 SMA of 1650.02.  If it happens this week or next, I'll be holding the winning ticket, at which point I'll be cashing in for a lump sum.

If we're pushing against margin debt limit levels at the NYSE, the probability could yet tilt in favour of the Semi-Bears...


-0.68% SBA
-0.26% Roth IRA

-0.31% DJIA
-0.32% Nasdaq
-0.38% S&P 

-1.41% FTSE
-0.27% Eurofirst
-4.00% Nikkei
-0.67% Shanghai
-0.36% SENSEX
-1.53% Hang Seng

-1.07% WTI
-0.82% Brent
+0.30% Gold
+0.47% Copper
-0.79% Corn

-1.27% USD/JPY
-1.02% EUR/JPY
+0.71% EUR/GBP

-0.72% DJT
+2.12% VIX

-1.59% 10-Year US Treasury Notes

30% Advancing Issues on NYSE           |   30% Up Volume
67% Declining Issues on NYSE            |   68% Down Volume
3% Unchanged                                 |   2% Unchanged


33% Advancing Issues on Nasdaq        |   36% Up Volume
64% Declining Issues on Nasdaq         |   62% Down Volume
3% Unchanged                                 |   2% Unchanged


Major Headlines Today:

Treasury set to move into profit on Freddie Mac
Carney ties UK rates to jobs data
AMGN Rallies On Potential Onyx Deal
GOOG Falls & Closes Below 50 SMA