And I’ll let you know what, where and why when I do…
The selling was relentless there for a while earlier this afternoon, but as we head into the closing mintues, the markets have rallied a good half a point. That said, the markets are still down more than 1% today. There’s nothing we can do to turn the tide ourselves and in the near-term this market’s path of least resistance sure does seem to be lower. That said, given that we’re not daytrading or just trying to buy some near-term calls to catch a short-term bottom in this market but since we are indeed still building these common stock positions that we plan to hold for three to five years or longer and since most of our options are also 6, 12, or 18 months out, these swings can provide some great opportunities to continue to build and scale in.
And that’s what you’re seeing me do and I’ve still got more ammo and I’m probably going to be adding some out-of-the-money calls that are 6 months out in coming days. And I’ll let you know what, where and why when I do.
Lastly, I’ll finish by reminding you guys once again that the most painful trades are usually the right ones and by telling you that history says it’s better to be a buyer than a seller when the headlines are once again reading things like:
Yahoo! Finance Exclusives
Thanks for reading and I’ll see you tomorrow.
