Tactical musings, technical timing indicators and risk management strategies
Wednesday, December 19, 2007
A calm day
The Qs started out midpivot and finished midpivot, having failed to gain much traction during the day. That 3 hour waddle along the S1 pivot looked like it was going to turn nasty, but the 14:00 buying put that on hold. I was looking for a nice bounce up to sell some naked calls at the open, but the premium evaporated in the first few minutes to the ridiculous level and I held back. May go for the 51s tomorrow if we get some momo up in the morning.
An interesting post by Ticker Sensetoday on reported lowered expectations for the next quarter's performance and why you shouldn't necessarily accept it at face value.