It went up like a rocket, b/c it WENT DOWN like a rocket before. There is no requirement that it reverses down like a rocket. It can yo yo around 115-118. If it finds support at 115, that will serve as the launching pad for retest of the April high. Historically, the odds is >95%. If I buy some calls, then this time will turn out to be that remaining 5% when it drops instead. LOL I know b/c the gods luv me long long.
NDX, MID, SML and RUT have broken their respective 'teal' line (my teal lines which are similar but not identical to Sundancer's). SPX, NYA are showing what appears to be 'rejection' at their teal lines. A short position is warranted, should other baby teal lines indicate so. But time is running out for the May puts. They have morphed into lottery tickets now and one must prepare for their journey to the afterlife.
Down moves occur much faster then up moves. So, we could start the down move into the close today, and crash tomorrow… which would finish the move down, and allow a rally all next week.
The way things are looking now… we could have a “Black F**day” (I don't want to jinks it).
oil really gaining strength – odd.
That so funny! I saw that article as well. don't think there will be a retest though. We should be done retesting.
I'm guessing that we're going to bounce off 1150 today and close around 1160. Another run at 1173, then Goodnight Irene.
Yahoo was so helpful informing its readers yesterday that 1173 is do or die. Now they'll know to fold fast when it fails. 🙂
It went up like a rocket, b/c it WENT DOWN like a rocket before. There is no requirement that it reverses down like a rocket. It can yo yo around 115-118. If it finds support at 115, that will serve as the launching pad for retest of the April high. Historically, the odds is >95%. If I buy some calls, then this time will turn out to be that remaining 5% when it drops instead. LOL I know b/c the gods luv me long long.
NDX, MID, SML and RUT have broken their respective 'teal' line (my teal lines which are similar but not identical to Sundancer's). SPX, NYA are showing what appears to be 'rejection' at their teal lines. A short position is warranted, should other baby teal lines indicate so. But time is running out for the May puts. They have morphed into lottery tickets now and one must prepare for their journey to the afterlife.
Down moves occur much faster then up moves. So, we could start the down move into the close today, and crash tomorrow… which would finish the move down, and allow a rally all next week.
The way things are looking now… we could have a “Black F**day” (I don't want to jinks it).
Thanks a million Red.
NASDAQ swinging i think 30 points is pretty telling. But the vixes sure are slow to react.
i am nervous about adding today going into opex but it sue is driving me nuts.
Ok – I was just wondering if he was forced out but I guess not.
In the parliamentary system when the prime Minister loses his majority it is customary for them to resin.
The perfect storm is here, and we are about to leave the EYE…