UGA is a short.
No TBT now. Looking to enter. May short TMF.
HCN, MCP, NOV, TAYC are 1/2pos. Add or drop.
I surely hope that Fearless is right, and this is up and up from here. As for put/call ratio, I don't see it that clear on expiration week. I remember my option trading years. This is a time when they loose sleep and run out of nail to chew. Just imagine you position is about to go to option heaven. Puff... you lose. I say - let them kill each other off - the air will be much clearer next Monday.Oct 19: http://evilspeculator.com/?p=31381
Meanwhile, at "major averages ranch", IWM is sucking brick, QQQ has plenty of overhead resistance to fight and SPX is back at the point where it's 50 points up or down from here. Truly in a market of stocks - you need to pick your spots. KORS + TIF = happy. KRE + YELP = sad.
I'm really looking at Dollar, famously showing "suicidal tendencies" (plagiarizes from Mole). If that thing breaks down from 79/80 box, where its been for past 20 days... One can have a dream. Right?
Back to your regularly scheduled chop-fest
Daaam, I'm missing all fun. totally swamped at office with 2 (two!) surprise audits. These people surely want me to quit this damn job.
Open interest on ES stands at whooping 3017000. I view high open interest as indicator of too many shorts in the market. Last time it was over 3mil was in end of August, close to contract expiry. Those shorts got squeezed, today's shorts will get murdered. I'm not saying that this thing will turn today, but I will not short it for any more than few hours ( and probably not at all)
Please, keep in mind that I keep my stocks for weeks-to-months.
Bollinger on VIX is so narrow, it may get step 1 within days. Or even today. Sell-sell-sell! Come to papa!
Ahem, excuse me, But Nasdaq A/D hit 3rd lowest reading in 6 months. -1650. The only two lower readings where near bottoms on June 1 and july 23.
what the hell is going on? Somebody bombed us?