Dow down 34, Nasdaq down 3. Hilarious. Looks like continued piss-poor performance out of the markets. Todays action came hot off the prediction wire from last week and left little, if any movement. I still remain bearish...but monitoring the markets as if my week depended on it. It will for sure ruin my week to be on the wrong side of a rally. Here is the snapshot...as you can see nothing to get aroused about.

VIP AUG 45 calls $2.00 trading at $3.50
LRCX Aug 40 Puts $1.60 trading at $1.00
RYL Aug 40 puts @ $1.40 trading at $1.15
WHR Aug 75 puts @ $1.05 trading at $1.15
AZO Aug 85 puts @ $.95 trading at $.75
RHAT Aug 22.5 puts @ .60 trading at $.40

Here are a few price patterns I planned on presenting tomorrow morning...


THE- Descending Triangle
CTSH- Emerging Ascending Triangle
IFIN- Double Bottom

For those who want to participate in an experiment, I am seeing a lot of Ascending Triangles happening at the bottom of intermediate downtrends. Take UPL, BUCY, LUFK, and WIRE to name a few. Im too picky to trade them, but I'll track them to see how location of a pattern can affect the probability of a profitable outcome.

See you tomorrow

Posted by Option Addict on 7/31/2006 at 3:03 PM | Permalink