So far it looks like the gangsters are holding the market up while the short term charts reset. This it typical of opx weeks, as they have to steal your money by making your options expire worthless.
I’ve been in and out of short positions, but this is the first short since last week (which was a nice one). I’m trying to be more patient for my entry’s. I do think tomorrow should be a good day to get short again. This relief rally is what I’ve been waiting on since last weeks’ bottom. The only wildcard for this week is the games they play around OPX. So it could be next week before we move back down hard? We’ll see tomorrow I guess…
I’ve had a short position for the past two weeks, just trading bigger/smaller, and trading the triple longs at the inflection points. Any losses on the short side won’t be substantial because the HFTs & human manipulators are furiously pumping different sectors to keep this thing afloat.
Long options have been very profitable for reversals like these, but I’m going to be super careful…I have a feeling that some weird stuff is going to happen soon. Weird weather all over, allergies going haywire all over the country. Just weird.
So far it looks like the gangsters are holding the market up while the short term charts reset. This it typical of opx weeks, as they have to steal your money by making your options expire worthless.
Headfake or “Headfake of a Headfake”? LOL
Anna just caught this FP on the IWM…
http://reddragonleo.com/wp-content/uploads/fp-on-iwm-of-94-35-on-05-19-2011.jpg
Also, cletus reported that a large block of 10 millions of the dia was bought yesterday.
http://bbs.cobrasmarketview.com/download/file.php?id=2874&mode=view
ES Resistance line: http://niftychartsandpatterns.blogspot.com/2011/05/es-resistance-line.html
LOL… that guy is whiter then I am!
I’ve been in and out of short positions, but this is the first short since last week (which was a nice one). I’m trying to be more patient for my entry’s. I do think tomorrow should be a good day to get short again. This relief rally is what I’ve been waiting on since last weeks’ bottom. The only wildcard for this week is the games they play around OPX. So it could be next week before we move back down hard? We’ll see tomorrow I guess…
I’ve had a short position for the past two weeks, just trading bigger/smaller, and trading the triple longs at the inflection points. Any losses on the short side won’t be substantial because the HFTs & human manipulators are furiously pumping different sectors to keep this thing afloat.
Long options have been very profitable for reversals like these, but I’m going to be super careful…I have a feeling that some weird stuff is going to happen soon. Weird weather all over, allergies going haywire all over the country. Just weird.
Some Apocalypse humor:
http://www.amazon.com/Ready-When-Goes-Down-Apocalypse/dp/0061998257/ref=sr_1_1?ie=UTF8&qid=1305776080&sr=8-1
Me thinks so too… short term top or long term top is the question? Either way, I’ll be taking a short position tomorrow.
Headfake or not, the top is close.
New post…
http://reddragonleo.com/2011/05/18/headfake-or-back-in-the-bullish-trend/
I got the same target on IWM Z… and about 135.10 SPY.