On 3.10.2010 I said if we closed the week at 1150 or above it we’d hit 1170-1175 area in short fashion. Well, today we closed the week at 1178 in the S&P. Now those who have tried to short this Algo rally (low volume, dominated by black boxes / Algo’s a.k.a algorithm trading combined with…
TJ's Take » A Global and Urban Flaneur
Tag Archives: VIX Monday could be up, Tuesday could be up, but there is a HUGE amount of Open Interest in PUTS on the SPY at 110 (the SPY is a spider that tracks the S&P). The close on Thursday was 111.44 (AH it traded down to 111). I think it was more of Momo (momentum) traders who…  Last week I was quoted in my tweet that Walmart (Ticker: WMT) would try $55 and if it didn’t get pinned to $55 (November Options Expiration) then it would get pinned downward and buy DEC $55 calls at if that happens, otherwise hold. Well, it marched up to $54.87 and didn’t touch $55, so Market… Oil above $66.. above the range it needs to stay in for the rally to continue ($58-65) Needs to pull back to $62-63 for another leg up and thus the rally will probably to do what Kass recommended 3-5% (light) correction (which puts S&P at 940’ish). Also, smart $ doesn’t like to chase. I told… |
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