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Opinion on  Ultra S&P500 ProShares (SSO)
weekly RSI in SPX at 2002 levels

Oct 07, 2008 08:24 PM GMT
Return Risk
-0.56% MID
Sr. Analyst

monthly RSI at these levels was only twice in the recent history - 1974 and 2002
i think that any deep from here can be bought.
short term down side risk is limited by 960, upside is return to 1200.


SSO:  This call was made on 10/07/08 @ $35.95
Rating:   Positive   $35.95 (10/07/08)
Closed:   11/03/2008 @ $32.02 (-10.93% in 27 days)


Comments (4)

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larytet   40%     0 point   commented 397 days ago reply

all indicators are bearish and out of the charts, starting with $VXO and ending with only 5 SP500 stocks above 50MA. but the most outstanding is put/call ratios in QQQQ/SPY/DIA. For in-money we see ration 1:10 and higher. For example right now 70K and 10K of open put and call positions in SPY and $96 (SPY=96.34) put which expires in 4 trading days from now costs $3.6. I mean $3.6 !!! this put prices in about 5% move down.

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larytet   40%     0 point   commented 397 days ago reply

and another thing - last two days we witnessed sell off both in bonds and stocks. no diversified strategy was safe.

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larytet   40%     0 point   commented 397 days ago reply

put/call ratio in QQQ is staggering 337/41 - there are 337K open put position at-money alone or 30 mil shares which is approximately 10% of daily trading volume and only 6 days to expiration. $VXO crossed 70 and $VIX 60 i think both at all times highs

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larytet   40%     0 point   commented 397 days ago reply

...and put writers are going to be squeezed. there is very serious blood . i think that in Oct at least expires equivalent of 150mil shares of QQQQ or cool 3bil. i bet a hedge fund or two had positions not covered


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ROCK-STAR INVESTORS
Rank Name Sharpe Ratio Avg Return Followers
1 21.10 +34.57% 370
2 18.14 +68.57% 207
3 17.66 +25.68% 53
4 13.47 +14.32% 61
5 12.13 +77.15% 34


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