Tuesday, 14 April 2009

What the....?

I left the house for a bike ride this morning having closed out my short calls position, and the F was up over 50 points, in fact above R1. At 11.20 someone did or said something and the wheels came off big style. Just after 2 and the market was down over 30, down to S1. Can anyone say this is not manipulation?
I am annoyed mildly because I missed an opportunity again, but should in hindsight have taken the expiry week trade when F was up 50 odd. Serves me right!
I am now thinking the only sane trade would be a very wide short strangle, as the bias again has shifted to the down side, as the US retailers confess to a drop in sales (we all know they massage the numbers horribly anyway).

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