Precious time -Que Sera

May 4th, 2009 Posted in Uncategorized

I'm starting to look at options now for the S&P. Why, because it's at a psychological point the 900 level.  I think we still go higher. My objective to the 950ish level,  I don't think that this 900 level will hold for any major resistance and a couple days of dancing around this level will be normal and no need the cause for panic.  I am going to take a little insurance, a put option. I'm not going to get married to it or sit on it until it expires, but something I do want is what I call a Little Van Morrison- PRECIOUS TIME.  It doesn't matter what route you take. Sooner or later the hearts going to break. No rhyme or reason, no master plan, no Nirvana, no promised land.  I'm buying a little time with the December looking at the money put options in the S&P500.  If it breaks when your not looking or when you wake up; you got your insurance.  Remember this is a traders market, Be prepared to reprice them as the market goes higher and say Que Sera, whatever will be.

Call me at 800-288-8802

There is a substantial risk of loss in futures, futures option and forex trading.

Dave Heltmach

Manduca Trading LLC

dheltmach@manducatrading.com