Saturday, July 13, 2024

Something’s Brewing

witchs-brewing-jobs-numbers

Something's brewing in the market, as the Technology section got hammered today.  Commodities was the main thing holding up the market, along with the Financials.  I don't see much change tomorrow, as the big news is the jobs numbers... which will be released on Friday.

So, I'll keep this post short.  Tomorrow should be another repeat of today.  A flat to slightly down day is what I'm expecting.  Yes, it's getting boring saying the same thing everyday, but nothing much is going to happen until "they" (the PPT) let it happen.  It seems like the "big boys" have been secretly told not to participate in the market, as the volume is still extremely low.

Until the volume picks up to at least 150-200 millions, no serious sell off is going to happen.  That will take the institutions partisipation... which seems too be "non-exsistant" right now?  Where are there, and when will they come back into the market?  I don't know?  But when they do... look out!

Red

Red
Author: Red

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binrongb4
binrongb4
14 years ago

Ants are getting f**ked (again), but what's new? I really, really think the jig is up. The bomb is going to drop in the next 3-10 sessions!!!!

Red Dragon Leo
14 years ago
Reply to  binrongb4

I'm hoping so, as I'm short the USO (40 puts) and time is my enemy. By my crystal ball… I see the USO closing a 38 on OPX next Friday. I also think the market will fall to the 1103 area.

PRAMOD
14 years ago
Reply to  Red Dragon Leo

Hi Red,

Though the current pain on USO is 38, I doubt it will go that low by OPX. I am thinking 39-40. The current pain on SPY is 112.

Red Dragon Leo
14 years ago
Reply to  PRAMOD

Thanks for the info… but, I wasn't basing it on the current pain, but more on the amount of calls vs. puts at 39 and 40. If I were a market maker, I'd close it at 38… but what do I know? Nothing obviously!

PRAMOD
14 years ago
Reply to  Red Dragon Leo

Just hoping for 1150 tomorrow so that I can load some Jan 115 puts. I think we will close at 1120-1130 on OPX. JMHO

Red Dragon Leo
14 years ago
Reply to  PRAMOD

Maybe? But I think it will fool us all… My forecast is for the 1103 area to be hit by opx, but that is probably just wishful thinking.

Red Dragon Leo
14 years ago

I'm hoping so, as I'm short the USO (40 puts) and time is my enemy. By my crystal ball… I see the USO closing a 38 on OPX next Friday. I also think the market will fall to the 1103 area.

PRAMOD
14 years ago

Hi Red,

Though the current pain on USO is 38, I doubt it will go that low by OPX. I am thinking 39-40. The current pain on SPY is 112.

Red Dragon Leo
14 years ago

Thanks for the info… but, I wasn't basing it on the current pain, but more on the amount of calls vs. puts at 39 and 40. If I were a market maker, I'd close it at 38… but what do I know? Nothing obviously!

PRAMOD
14 years ago

Just hoping for 1150 tomorrow so that I can load some Jan 115 puts. I think we will close at 1120-1130 on OPX. JMHO

Red Dragon Leo
14 years ago

Maybe? But I think it will fool us all… My forecast is for the 1103 area to be hit by opx, but that is probably just wishful thinking.

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