I'm excited for the triple witch....
BTW... I'll be selling the shit out of the open.
With the vix at 50.... and the spy at 90...
I think we can make 85 by the close...
that is a 50 pt loss on the spx.
Friday, December 19, 2008
Nice case of insomnia
Subscribe to:
Post Comments (Atom)
2 comments:
Looks like an important day with futures recovering off lows but still down from yesterday and Europe selling off now. Quad witching, too. The drama is overwhelming.
Do you really think Bush will allow the Big Three to file Chapter 11 with six left to go in his presidency. Brinksmanship, baby.
il is oversold with Terranova's 30-handle being factored in. Ludicrous. I can see cheap oil with a recession, but there is a limit due to production costs. XLE and CVX and XOM should be higher by next week.
Ascending triangles all over the place... to me (and remember my right brain is a vestigial stump) these do not look like pennants.
My final observation is that T.Lo has a lot of winners today and sell stop cushions seem to be wider-- not sure how to interpret this.
My prediction (which is worth nothing...I'm not trading today due to work responsibilities) is that the market opens down and recovers at mid-day. Q's are right at ascending support line of 29.5 and where it closes today is very key.
Update: Futures improving by the minute.
I figured we would be up big at the open... and apparently beyond.
Options expiration, stocks are attracted to their strike price,
so the spy has strikes at 90 and 85
aparently the auto bailout has pulled in some "dip buyers"...
but this is the third "dip" in the trend.
you need to figure out the difference between a rising and compressing trend(wedge) and an ascending triangle(more like a cup and handle)
Your desire to believe, sucks in that non-zen like brain.
Post a Comment