Since it closed above 682, the (near term) uptrend is still intact. A 10 point rise from 689 making it to 699 or or higher to 708 is still in the card. CPI tomorrow may just be able to do it.
2c
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This blog is for those with a passion for trading OEX options.
Blog Archive
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2007
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November
(21)
- Near term target 695 reached
- Helicopter Ben speaks tonight
- Wow, it is impressive
- Good signs for the bulls
- No follow through
- Short and sweet
- The power of pivots.....
- Bottoming process....
- A very disappointing day for the bulls
- This is trying...
- Unfinished business on the up side
- Scary close, but......
- A no brainer day
- The ultimate revenge...
- Another one...
- Rebounded.....without helicopter Ben
- Subprime again...
- It's a buy now
- Shorted again...just couldn't help
- So where do we go from here?
- Uncertainty creates the biggest reward
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November
(21)
About Me
- 2cents
- Interested in trading using statistical analyses.
2 comments:
hi 2cents, hope you did ok today. 1490 seems a big level to break, and it closes bad. We may not get any move up tomorrow. I could be wrong but my view is that we should go lower from here, may be fairly fast (I don't have position now).
Look at optionmonster.com for the index action. There is large IWM80 put, and Q 50 put. I cannot imagine they are all sell (bullish) order, because IWM80 is in the money. If these are buy orders, you know what will happen tomorrow.
good luck.
p
I got rid of my SPY calls when it gapped up in the morning. Attempted small positions in Dec OEX Calls (far out of the money) and RIMM calls. I am putting my neck out to test my theory. CPI was tame but futures down so far. Will see. I see OIH turning up though.
2c
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