Comments on Fund My Mutual Fund: Seeds for a Rally

No rally until back over 870Guy, nothing matters u...

2008-12-03T14:38:00.000-05:00

No rally until back over 870

Guy, nothing matters until 3 PM.

Pankaj, XOM Is hilarious - every day oil goes down and they "run" XOM up after 3 PM each day to get the indexes up. Hilarious.

You can't believe much of what you see anymore, I don't think any old "tells" mean much anymore.

I spoke too early and then we had a downward move ...

2008-12-03T13:59:00.000-05:00

I spoke too early and then we had a downward move on Nov 23-24. This rally off of that downward move brings us back to Nov 17th where I was optmistic initially.

As I am typing this, the market pulled back (a good thing as I needed to accumulate more SPY calls against my XOM puts). All bets are off about bounce though if the SPY breaks below 82! If its does close below 82, then its all downside from there (not likely though I think).

Hey you spoke too early..or was that the rally?

2008-12-03T13:34:00.000-05:00

Hey you spoke too early..or was that the rally?

Well said Mark. I was a bit early to call the bot...

2008-12-03T13:23:00.000-05:00

Well said Mark. I was a bit early to call the bottom (Nov 17th) as I was looking at the overbought FXY. Now, with the technical (senitmental) case, the market sure looks its ready to bounce.

I wonder why XOM recoverd so quickly though and if having XOM puts as a hedge against SPY calls makes any sense?

Cheers..

PS: Not recommneding and/or soliciting consultation!