There was a big let down around 10:30. I guess the POMO operations weren't going as planned. Bill gross spoke publicly today on how the 30 year treasury will become extinct. Agreeing with him is like playing liars poker. Last time Bill Gross made this comment i was buying TLT under $90 a share. I bought TLT at $99.30 with a .3 stop and a $10 dollar profit exit today.
Today we had less puts purchased than the day before. Very strange. The vix is only sitting at 20 and we have all this excitement coming up over QE. Wouldn't everyone be hedging their bets! This is a giant game of life chess.
We had 14 new lows and 149 new highs today, lowering the ratio from yesterday. On April 26th 2010 we had 674 new highs. This is the highest ever recorded known to date. We have been flirting within 3 points of this the last couple of days and our new highs haven't been close. On October 25th 2010 we had 311, close to half.
How can this be when we are this close to a new high?
On Fast Money tonight i happened to see a an option broker reccommend shorting calls against the TLT. If i am thinking this trade through correctly this is extremely risky. Now selling covered calls if you owned the stock since $88 might be a good strategy ,but straight out shorting them?
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