Short term trend down, longer term trend still up; STEC stumbles

GMI2/6
GMI-R4/10
T210853%

The sudden deterioration in the short term indicators is a little troubling to me. While I am defensive, the longer term weekly up-trends are still intact.   Last month, the market weakened considerably early   in the month, only to come charging back by options expiration.   We do not know whether this pattern will repeat this month.   October always brings out the bears.   I am trying to hold on to the cash secured put positions I sold.   As we get closer to expiration, on 10/16, the time value of the October puts I sold will decay, bring me profits.   I am betting that the underlying stocks will not fall so far as to wipe out my profits. Then again, I would not mind having someone put to me shares of AAPL at $170! Meanwhile the GMI

Read more