Opinions
Richard Croft
S&P 500 Index
SPX-I
BUY
Nov 22, 2005
A very cheap way to play the US market.
$1.000
Stock price when the opinion was issued
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COMMENT
He bought an option on the S&P at 3,275 to March 2020 at an average cost of $19. Hold till November? He bought an option on the S&P. Interesting--you can exercise them early. 3,275 is an aggressive target to March 2020, but it could happen. Sure, hang onto November. He doesn't expect much time-value erosion till then. Has potential, but you have challenges making that money. He's prefer taking options if he was going long; it's less risky.
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DON'T BUY
technical analysis by Jessica Inskip re: volatility, strong job market and higher inflation
The post-election rally kept the S&P up, and Inskip was hoping it would remain above 5,850, a key level. It closed the week today at 5,827, crossing that support. Next level of support is 5,783. According to the Ichimoku Cloud, the S&P chart has turned negative, bearish. Inskip thinks we could roll back the entire post-election rally, taking us down to 5,783. The S&P broke below the 13-week average.
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