A Friend

October 27th, 2009 Posted in Uncategorized

Jimmy Page once wrote: "Bright light almost blinding, Black night still there shining, I can't stop, keep on climbing, Looking for what I knew". So here I am, looking for what I know. I stare at this chart everyday. I keep on saying to myself and repeating the old trader cliche... "The trend is your friend". Yes I'm trying to find my innersoul, contacting that god of traders to help me find the light on this black hole we call the S&P.
Here's what I know...they can be down days, there's going to be up days and I do know there is going to be a correction but when and if this market turns over what do I do? Do I hedge? Do I liquidate? or do I do an option strategy that involves selling at the money calls and create a little income stream?

The market does look heavy. The trend lines are there, But the dollar is rising. If the Dollar rises too fast it will be too late. What to do? What to trade? So I look to Jimmy for so advice and he tells me "Mmm, I'm telling you now,The greatest thing you ever can do now,I s trade a smile with someone who's blue now, It's very easy just.
What does it all mean?

Give me a call or shoot me an email
Dave Heltmach
Manduca Trading LLC