yup..that surprised me too. but the down trend line from spx high at 1217 to 1090 and MA50 still consider strong resistance for spx. yes..i agree with you and more down nextweek.
I'm surprised they didn't gap it up out of the channel first, before selling off. But, I guess they were too weak to do it. I'm leaning more toward closing around 108 now.
Do we average up or wait till eod to see if they run it?? The vixes do not showserious selling as they are below the 6% positive level that would normally support this down open. So i think red is right and we get other oportunities after 3PM.
JPM recommended buying C $4 calls earlier this week. Wanna bet that C closes at $3.99 today? I'm guessing JPM had too many C $4 calls and wanted to unload them.
yup..that surprised me too. but the down trend line from spx high at 1217 to 1090 and MA50 still consider strong resistance for spx. yes..i agree with you and more down nextweek.
I'm surprised they didn't gap it up out of the channel first, before selling off. But, I guess they were too weak to do it. I'm leaning more toward closing around 108 now.
yes, Red…i was fully loaded with short yesterday…. espeicallly GS and BP got me so worried. Bears finally got the fish…yeah!
Isn't that funny how yesterday only went down to 108.17 and didn't actually fill the gap at 108.03… and now we did.
Adding today will not be an easy choice.
Do we average up or wait till eod to see if they run it??
The vixes do not showserious selling as they are below the 6% positive level that would normally support this down open. So i think red is right and we get other oportunities after 3PM.
But I may get stupid and add a little.
JPM recommended buying C $4 calls earlier this week. Wanna bet that C closes at $3.99 today? I'm guessing JPM had too many C $4 calls and wanted to unload them.
Look at the macd on open. is that a mistake??
Yeah, it's go back up some in the last hour.
They are going to wack the shorts again today
market will be down all down until last hour
DOW JONES Futures before opening bell
http://niftychartsandpatterns.blogspot.com/2010…