OTCPK:JEMTF - Post by User
Post by
Canonballon Apr 29, 2009 12:07pm
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Post# 15952915
Suggest a hedge here...
Suggest a hedge here...I am still holding my BCS position as I have a MAY 7.50 CALL on it ...which will definitely get assigned ...however BCS has had a wonderful 8 week run so I am hedging by buying the SEPT15 PUT which I did today...it may be a good move, or maybe not remains to be seen.
A few posts back I said BCS was going go and it sure did...way better then I had thought... so I hope people got on that train too.
I also bought a PUT on BMO the JULY 40 which may or may not work but it may work as a hedge...if the market does pull back ...DOW is about to hit it's 8190 resistence level (currently today at 8171.31), or there abouts...and then pull back to around 7500 the thinking is in the first two weeks of MAY the market will start to weaken. Based on the SH article "Stealth stock market; sell in MAY and go away?"
Cheers