It Can't Happen Here!

The markets are free falling heading into the last half hour. Of course this is all an illusion created by the Bears in trying to trick the Bulls into selling. We all know that won't happen anytime soon. It is after all June and the summer rally is about to swing into full power. Full speed ahead, and may the Bears eat our dust. This market is going to soar and Nirvana will continue at least 'till the end of the decade. Buy those dips and I don't mean at the ice cream stand. Come on Bulls, it's time to fatten up those positions with a bit more buying.

I have exited the Foster Wheeler (FWLT) put option trade a short while ago. I got out with FWLT trading at $105.90. I was waiting for a break of $106 and so thought I would close the position for a nice gain of $2.60 ($260) per contract as I was able to sell for $14.50 or $1,450. I still have the open position in ATI puts that has turned profitable.

The markets are continuing to crack as the Bulls head for cover. It is now possible the we have a nice big bearish double top put in place in the Dow and the S & P 500. This would allow for some more selling. However, until something really happens, like 2 days in a row of solid selling, the Bullies are still king of the street.