Will the Bears Make Their Move in November?

Last week here, I put forth another case for the bulls after already being a bull for three straight weeks. That of course worked out very well. Last week I also made it very clear here and several times on twitter, that a weekly MACD cross has resulted in a higher close the following week 10 out […]

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Open Interest for Expiration 11/06/15

Killer week!!!! It’s been an amazing October. I’m just going to get right into the open interest for next week. The overall theme for these momentum stocks is to buy call options on pull-backs into support. Much of where support will be found will depend on the overall market in general, but below is a guide...

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Set-ups and Game Plan for Week 11/2/15

Last week I discussed that the weekly MACD bullish cross has left us higher 10 out of 10 times. Now that stat stands at 11 out of 11. It was a fun (and exhausting) week. I don’t think November is going to be straight up like October so we got our work cut out for...

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Surprise: A Christmas (Hanukkah) in October

Last week here (and for the last 3 weeks), I very clearly laid out a more bullish bias. Furthermore, I highlighted possible weakness Tuesday into Wednesday, but tweeted out during that weakness “but don’t forget to buy the dip.” I appreciate that so many followers of mine find my work helpful and want to know […]

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Open Interest for Expiration 10/30/15

Phenomenal week! Although for the second week in a row a lot of things did not pin, it didn’t stop us from being long the right things. Sometimes it’s just better not to go with the pin and instead just go with the chart. We have more earnings around the corner so as usual those graphs I won’t...

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Set-ups and Game Plan for Week 10/26/15

Spot on last week being on the bullish side. Last week was the second week in a row that seemed as if nobody was on the bullish page with me (just anecdotally through twitter). However, by the end of the week it seemed a lot of people had been converted. That typically spells trouble, but...

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Up Up and …….

Last week here I outlined a bullish thesis and recommended getting long on dips at specific levels that were outlined. Then on Wednesday when SPX pulled back to 1995 I tweeted out this: It turned out that was indeed very good support and longs initiated there were handsomely rewarded. As a side note, I want new traders (or […]

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Open Interest for Expiration 10/23/15

Last week was tricky, something I had anticipated in last weekends post. One big thing that happened last week is many things failed to pin even though it was monthly OPEX. Notice last week for some stocks I didn’t trust that they would pin and went with the technical picture instead (SPY, FB, etc). This was...

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Set-ups and Game Plan for 10/19/15

Very challenging week. Honestly I think one of the most challenging parts for me was the amount of bearishness I was reading during the down days last week. I felt like the lone bull. It’s always hard to trust what you know when you see others smart people making logical points. In the end I...

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Running of the Bulls

Last week here, I laid out a compelling bullish case for the week and targeted the 200-201 SPY area. I said from there it was likely to stall and even more likely to pull-back. Stall it did, pull-back it did not. If you had the direction of the market correct last week, the opportunities were […]

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Open Interest for Expiration 10/16/15

Insanely great week! Nothing more to say about it then that, so let’s get onto next week. It’s monthly expiration so the open interest tends to stick better and not change as much throughout the week. We are also headed into earnings season, so for earnings plays I don’t comment on the open interest because...

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Set-ups and Game Plan for 10/12/15

We were completely in-tune with the market last week. I very clearly outlined the scenario to 200/201 level and it worked out beautifully. It even continued to my astonishment showing no signs of anything being given back, which is why we didn’t fight it. Where the market currently sits, makes things a bit trickier than...

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Taylor Swift Asks, ‘Are we out of the Woods?’

Last week here I outlined a more bullish thesis and showed two separate open interest graphs for SPY, the quarterly and the weekly. The main theses was we would close above 192 on Wednesday (check), and that the best pin on Friday would be 195 (check). The path to getting  those was surely not smooth or […]

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Open Interest for Expiration 10/09/15

Phenomenal ending to a challenging week. I admit it started out a bit rough, but I stuck to my guns, was open minded and it ended up being an awesome week. Over 1000% in a day is nothing to sneeze about! As I said on Friday the open interest suggests a bullish week ahead, but that was...

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Set-ups and Game Plan for 10/5/15

Insane week! I did say last week the best pin was 195. The path it took to get there though was definitely not anticipated. In the end it was a very successful week even though I think I need to start checking my hair for grays now. Onto next week. As of now the short-term...

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Protected: September

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One Last Hurrah or Sayonara?

Last week here I was more biased to the upside as long as SPY stayed above 195. Well it failed to stay above there and I tweeted an updated open interest that looked much less bullish, suggesting that 190 would be the next support. Buying a little ahead of that on Thursday proved to be […]

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Open Interest for Expiration 10/02/15

Disturbing week to say the least. Overall, the week went OK. I wish I had bought a bunch of bio puts Friday morning to change an ok week to a phenomenal week, but then that would have been too perfect right. Anyway, won some, lost some and moving on. I am going to post both the...

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Set-ups & Game Plan for 9/28/15

This market is definitely not letting up with the volatility. Although that makes things very challenging, you can see how it can also lead to enormous gains in a very short period of time with options. I will continue to concentrate on the high momentum stocks and indexes, but have some other gem set-ups below. Bottom line,...

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A Bounce Potential Early Next Week?

Last week here, I discussed my bullish bias and that if SPY remained above 195 there was a good chance we would get to at least 200. That worked out perfectly as SPY hit 200 on Wednesday. I tweeted out Wednesday that my target had been hit and I had no expectations going into the […]

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Set-ups and Game Plan for Week 9/21/15

The volatility continues and as long as that is the case we will continue to play things with shorter time frames and through the larger movers. Last week was great. When we have weeks like that it’s important not to put all the money back to work and risk losing the profits made. This volatility...

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Open Interest for 9/25/15 Expiration

Crushed last week! Now onto next week. We are still in an intermediate term downtrend and the odds of a V-shape rally to new highs are not great, but it is still possible we have another bounce coming very soon. Of note though (and this is just to keep in the back of our mind, not as a...

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Quad Witching, S&P Roll Over, & FOMC Oh My!

Last week here I showed the enormous amount of puts from 193 and below. I discussed how that is typically a bullish sign, but hard to trust in the recent environment. Then on Tuesday morning I tweeted an update that showed a bunch of calls from 200 on. In the end SPY pinned in between them […]

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Open Interest for Expiration 9/18/15

Quad witching coming right up! These past few weeks have been insane! Not the greatest start to the week, but the week ended much better. Volatility helps in that respect. Next week is monthly OPEX, therefore most of these open interest graphs will not change much. Let’s get right into it! SPY: As I said on...

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Set-ups/Game Plan for Week 9/14/15

Last week wore me out. Very happy Friday gave us some good trades. Staying afloat is major in this market. Anyway, the volatility is likely not over, partly because of the big FOMC decision next week. Given that, I’m going to continue with the same format that I have for the past several weeks. I will...

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Will Put Holders be Rewarded This Week?

Last week here I went over the 2011 period, not as an analogue, but to demonstrate an outcome other than the V-bottoms we have become accustomed to. If you haven’t read it, I recommend that you take a look as there are many similarities between the 2011 correction and this current one. Again I don’t […]

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Open Interest for Expiration 9/11/15

Super tough and volatile week and yet profitable. This market is NOT easy, but look how so many of those option levels helped us navigate (i.e. the AMZN trade or GS if we had taken it). In this environment I can’t rely on the open interest as much, but they definitely are helping us know where...

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Set-ups/Game Plan for Week 9/8/15

Market definitely keeping us on our toes, but I’m loving the challenge. Not losing money in this environment is challenging enough so it’s awesome that we are profiting. The strategy for this next week is going to remain the same. We will concentrate on the momo’s and the indexes. Trying to find set-ups everywhere is...

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Will the Bulls Charge Their Way to New Highs?

Last week here I stressed that oversold can stay oversold and that I believed the market had not bottomed. I laid out the bullish and bearish arguments and it was clear that the bearish ones had more going for them. I also drew some comparisons to the 2014 October correction as an exercise that steep […]

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Open Interest for Expiration 9/04/15

Great great week. We waited for the right opportunity and when it came the returns were huge. A great reminder that sitting out when the risk/reward isn’t great pays forward. I understand it is frustrating sitting out when you see people on twitter saying they made this much and they caught this bottom etc. However, I...

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Set-ups and Game Plan for Week 8/31/15

One of the most insane weeks in months, perhaps years. I was very clear last week that I was not in the camp of an imminent bounce and that was key. By remaining on the sidelines we were actually able to catch the main thrust of the bounce. Now the question becomes, is it a...

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Protected: August

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Buy the dip or Sell the Rip?

Last week here I discussed a more bullish bias with the caveat that there was one big strike at on the SPY open interest at 205 and price could get there or undercut it by a bit. I also said that it would be a great place to buy the dip. I was wrong and […]

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Set-ups and Game Plan for 8/24/15

Hands down bears won last week. The move lower is not over. Whether we flush first and then move higher or we bounce and then move lower is not something anyone can predict; however, we can and will play this volatility. There is no doubt the market is oversold, but that doesn’t necessarily mean the market...

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Open Interest for Expiration 8/28/15

Whoa! Didn’t see that coming. Open interest got smacked by the selling. The last time that happened on a monthly OPEX was October 2014 (which provided information that I carried forward into last week). On Thursday, after the failure of price to get back above 205 a second time, I stopped trying to catch the bounce....

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OPEX and One Strike Domination

Last week here I wrote: “I am still not convinced the market has bottomed, but overall my main bias for next week leans bullish” and gave a guide on SPY and what to expect (how to play it). Below is what I wrote: “Here is a guide for SPY next week: SPY below 208 and not able to […]

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Open Interest for Expiration 8/21/15

AMAZING WEEK!!!!! We nailed pretty much every market turn to the upside and downside AND had huge winners in individual stocks. Next week is monthly OPEX so most of the open interest will not change during the week. SPY: Overall this is a bullish open interest graph. Having said that there is not much put...

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Set-ups and Game Plan for 8/17/15

Superb week, which is wonderful and should be acknowledged, but now back to work so we can continue the streak. Monthly OPEX in general tends to be bullish, but that is not something I would base my analysis on. However, it’s helpful to know because it coincides with a bullish open interest. As I said in the...

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What Goes Up Must Come Down – So Opposite True Right?

Last week here I wrote “Taking the open interest at face value first suggests that price will continue to gravitate to the 210/211 level and second, suggests a more neutral to bearish week is upon us.” I also outlined several thorough scenarios of what to expect based on where price goes and if you go […]

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Set-ups and Trading Plan for Week 8/10/15

Last week the game plan was right on point, but as you saw it was extremely difficult to trade and required lots of patience. This trading environment is so tricky and it’s teaching me/us the importance of sticking to the plan because they really do work. As I mentioned last week, I don’t think the bottom...

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Open Interest for Expiration 8/14/15

What a draining week. The open interest definitely nailed the outcome, but man did they make it so hard to hold those puts after that gap up Wednesday. It really does just reaffirm that it’s best to stick to the plan because more times than not it works and over time that averages to mostly...

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Open Interest For Expiration for 8/7/15

Last week the open interest pointed to a bullish week with a potential target for SPY 210 and then 211. That worked, but it definitely wasn’t easy. Earnings are winding down now so the open interest for the momentum stocks will become more relevant again. Also, based on the decent high strikes of puts or...

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Set-ups and Commentary for 8/03/15

It was correct to be bullish biased last week with a buy the dip mentality. It didn’t lead to a whole lot gains with such small movements and being too early, but so be it. In the open interest post I highlight that next week appears to have a neutral to bearish bias. As you...

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Are Bulls for Real or Will a Bear Appear?

Last week here I wrote that I am  “still not convinced that the lows for the year were in and after last week am more convinced that they are not. Having said that, I do think the market will bounce first before moving lower.” That worked out well and my view has not changed. Having already bounced […]

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Protected: July

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Set-ups & Weekly Commentary for 7/27/15

Going into last week I stated that there was limited upside due to the open interest and that turned out to be correct. I did not however think we would get all the way down to 207.5, but I did say that a break of 209 and that was the next likely target. Where I...

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Open Interest for Expiration 7/31/15

Overall fantastic week even though it ended poorly. ‘You win some, you lose some’ works as long as we win more than we lose which we did :-). Next time I have huge gains like I have in the last two weeks I just got take a couple days off! Anyway, let’s get to next...

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Bear Bear Go Away, Come Again Another Day?

Last week here I stated that the SPY open interest suggested “that the market will be rangebound next week, with very little room to move higher, but room to give back some of last weeks gains.” I also thought that shallow dips would be bought, but laid out a game plan in case that failed to […]

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Surprise – The V is Back, but is it a Trap?

Last week here I wrote that my bias was up and there was a good chance SPY would find its way to the 210 level. I had not anticipated that it would continue higher when I originally wrote the post, but did update my views on twitter mid week. First, I cautioned any short attempts by […]

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Setups and Commentary for 7/20/15

What an insanely busy and good week. Good feeling to be on the right side of the trade. Next week we still have big earnings, but that doesn’t necessarily mean the market will have some big moves. In fact, typically after a move similar to what we just got there is either some consolidation or...

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Open Interest for Expiration 7/24/25

EPIC EPIC EPIC week! I had no idea we were going to put in a bounce like that last week, but good thing is I didn’t need to know to benefit. I had the direction right and that made all the difference. Let’s get right into next week. SPY: The open interest suggests that next week...

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Bounce or Bottom? Next Week’s Game Plan

Last week here I discussed my bias being up and that if we were to get a dip below 205 it was a gift and to buy it. That turned out to be very sound advice even with all the volatility. About a month ago I warned of an impending small correction, which as you can see […]

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Set-ups & Market Commentary for 7/13/15

I barely remember what my bias even was last week with all that ended up happening, but it turned out pretty great anyway. As I said last week I am not convinced the lows are in. I still think we could see another flush down, but we will get there when the time is right....

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Open Interest for 7/17/15

Killer week we had. Honestly, there is no way I could have traded the way we did without knowing open interest. Let’s hope the volatility stays. Next week is monthly expiration and just as a reminder, the open interest changes less (if at all) during monthly expiration. Let’s hop right into next week. SPY: Here’s...

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Open Interest for Expiration 7/10/15

The theme I outlined last week based on the open interest was bearish and that turned out to be correct. Most of it happened overnight and Monday so the rest of the week ended up being pretty slow. It was also a good demonstration of the importance of when to trade and when not to. Trading only...

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Set-ups & Market Commentary for 7/6/15

Well I’ve been saying I was smelling a correction around the corner. Now we are in correction territory and navigating through it. There is no way to know how we will open Monday morning which is why I decided not to keep any SPY options over the weekend. With all the uncertainty over the weekend...

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Will the Bears Cheer or Jeer Next Week?

For the last few weeks, I have been writing about a looming small correction. Last weekend here I was bearish biased and that turned out to be correct, but if you hadn’t come into Monday short it was definitely difficult to play. I would be surprised if the low for 2015 was in; however, my main […]

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Protected: June

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Will Bears Finally Catch a Break?

Last weekend here I was biased toward a bounce, but after further weakness.  That plan was shattered right from the get-go with a gap up Monday morning. Knowing I was wrong had me quickly adjust my expectations and for the most part sit on my hands. With all the Greek news, potential for window dressing, as well […]

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Open Interest for Expiration 7/02/15

Last week right from the get-go we opened around 212 SPY. That threw things off from what my bias had been and kept me very patient rather than forcing trades. I had outlined last weekend that I knew when I was wrong and that I would have to change my approach. All in, the information...

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Set-ups and Commentary for Week 6/29/15

Last week was tough and really there weren’t may trades to be had. Next week presents another challenge in that there is likely going to be some Greek news (perhaps over the weekend) and how the market will react to that is a total guess. Also, it’s the end of the quarter and there is...

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Breakout, Fake-out, or Something Else?

Last week here I wrote that I expected a dip toward the beginning of the week and that it was a buy for a rip into the end of the week. I also stated that I thought come Friday or Monday we would begin to sell off again which would start a larger correction (more […]

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Open Interest for Expiration 6/26/15

Monthly expirations are so awesome. They give so much information to help us make (or not make trades). Last week played out exactly how I thought it would. Now comes the harder part because although I still have a similar bias going forward (that we correct soon); I may need to adjust my timing. I don’t...

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Set-ups and Market Commentary for 6/22/15

Nailed last week perfectly! As you know I had expected a correction (rather than a tiny pull-back) to begin Friday. We did move lower Friday, but I didn’t see the kind of action that would lead me to believe the correction has begun. We are not overbought, there was no buying climax, and many individual...

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Open Interest for 6/19/15 Expiration

Last week worked out very nicely for us knowing where bounces would likely come in and that the market would likely continue to gravitate to the 210 pin. Next week is monthly OPEX so you know the ranges don’t often move to much throughout the week. As much as we can we will take advantage...

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Set-ups and Commentary for 6/15/15

Great week last week as we were as prepared as can be in a market that is unpredictable. For the last couple of weeks I have been discussing what I think is looming and I am still in that frame of mind. Before I go into it, let me preface it with I will remain...

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June Swoon, but First…..

Last week here I outlined levels of importance and what to expect based on those levels. That worked out perfectly. I said below SPY 209.5 odds increase of a touch to 207 (check). Then I said above 210 and good chance we see 212 (check). Then I said that we could easily keep gravitating to 210 all […]

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One Perspective on the Market for Next Week

Last week here, I wrote the importance of the 210 level, which did hold during the first dip of the week. Later in the week I updated the open interest over twitter and said that 209 was becoming more relevant and in fact price reached a low of 208.98 and held. We are now back in […]

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Open Interest for Expiration 6/12/15

Open interest was a fantastic guide for pretty much everything last week. One of the best uses of open interest that people fail to see is that it can prevent you from getting into stocks that technically look good, but their open interest doesn’t give it a favorable risk/reward ratio. Just as an example, both...

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Set-ups and Commentary for Week 6/8/15

The theme I had going into last week was that bonds (TLT) would drop and financials would catch a bid. That played out very nicely. I also outlined what is potentially setting up in the next couple weeks. Next week I intend to closely monitor all the correlations that would give us clues to see...

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Protected: May

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Next Week Determines it All

It’s sarcasm, calm down. I couldn’t think of (and wasn’t interested) in trying to be creative for my title this week. Anyway, as there isn’t much new to report I will make this quick and easy. Overbought/Oversold: There is very little interesting here, but will update it for regular readers. SPX stocks at 20-day highs: Completely […]

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Open Interest for Expiration 6/5/15

Last week was uneventful in the markets, hence why I had few trades. The pinning seemed to work very well though on most of the stocks. Now we enter June. Let’s get right into it. SPY: This is considered bullish as long as 210 holds. If price falls below 210 I think we could easily...

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Set-ups and Commentary for Week 6/1/15

Once again there isn’t much of anything new to report since the week pretty much ended where it started. We had a few good plays last week, but were mostly was hands off. Next week I believe there are more opportunities. Regarding the overall market you can see what I wrote in the open interest...

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Open Interest for Expiration 5/29/15

What an uneventful week except for having some nice profits on Thursday. Last expiration week for May coming up. SPY: I wish this told us more, but really the only thing it tells us is that if SPY can finally breakout it likely gets stopped in it’s track at 215. Other than that we need...

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Set-ups and Commentary for Week 5/26/15

Last weekend I had a ‘slightly’ bullish bias and it turns out we went ‘slightly’ higher, albeit most of  the gains took place early in the week. Overall for next week there really isn’t much more for me to say than what I have been saying on twitter all last week. We are consolidating at the highs,...

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Breakout or Fake-out, Again?

Last week here, I candidly admitted that I had no real bias coming into the week. That changed Tuesday morning at around 10:30, right about the time the market rallied higher never to look back. I even sent out a tweet right before the rally began to highlight what I was seeing.    Overbought/Oversold: I […]

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Open Interest for Expiration 5/22/15

Monthly opex over and we are back to weeklies. Was an interesting week with finally some movement after holding 210 for a few days. The big question of course is does the breakout hold. Because we are back to weeklies there will be more open interest changes during the week then there was last week....

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Set-ups and Commentary for Week 5/18/15

I’m glad I came into the week without a bias because I never would have been able to predict how the week played out. It also allowed me to be flexible and cover my SPY puts at pretty much the perfect time. Although we are at all time highs, it’s very hard to be super...

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Open Interest for Expiration 5/15/15

Another week where we went nowhere and yet had a decent down move as I had suspected based on the SPY open interest. Next week is Monthly OPEX and as you know those have much more staying power and rarely change throughout the week. Here we go: SPY: Currently best pin is at 210 and...

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Set-ups & Market Commentary for Week 5/11/15

First, I want to thank you all for your patience while I was less active due to visiting my family in LA. As we now know in hindsight I really didn’t miss much and it probably kept me out of trouble. The market is still in a range and until then I think scraping money out...

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The Big Move Is…..

Last week I was out of town and posted the SPY open interest on my twitter stating that it looked similar to the week prior and worth a read (which is here). The main take away was that any rally would likely be sold and a swift sell-off was a good probability. That indeed happened as Monday […]

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Set-ups & Commentary for Week 5/4/15

Last week we didn’t get caught chasing the market knowing that the odds did not favor a breakout, but did favor a swift sell-off which is what ended up happening. The market is still not trending frustrating everyone. As I noted in the open interest, next week is offering a similar set-up although rare to...

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Open Interest for Expiration 5/8/15

Continues to be a directionless market making the open interest even more important for clues. SPY of course never got anywhere near 215 just as I had premised last weekend and we did indeed get a pretty gross sell-off (although wish I had been in IWM puts instead of SPY!) I said on Friday SPY...

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Protected: APRIL

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Will Bulls Go For Gold or Pass the Baton to Bears?

Last week here I gave a few scenarios for next week with levels on SPY to guide you. Specifically, I said that if we gap higher or get above 208 then as long as that held, the bias was bullish. I also stated that, “Once again, the market is in a similar predicament in which […]

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Set-ups and Commentary for Week Starting 4/27/15

I had said last week that the way we closed was very similar to a couple weeks ago when we ended up going higher. We knew where support was and what to look for Monday morning to guide us. We gapped over all the puts and then monitored them all week giving us the clue that...

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Open Interest for Expiration 5/1/15

Once again we saw how the open interest was a great guide for SPY and the momo’s.  Next week again is weekly expiration again, which means that the open interest is more susceptible to changes during the week. It’s also the last week for the major earnings releases. We had a couple great weekly trades and...

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Stuck, Trend-less, Choppy Markets

Pick an adjective, there are a plethora to choose from in the English language, but they all describe the market environment we are trading in. The bull isn’t winning, the bear isn’t winning, although premium sellers are likely winning. Last week here, I wrote that the likely scenario would be a choppy to lower start to […]

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Open Interest for Expiration 4/24/15

The open interest range on SPY held the entire week from Monday to Friday. On top of that, all those stocks that I said had interesting open interests with one strike carrying both the calls and the puts – well, they indeed ended up pinning with most of the damage done Friday. We are back...

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Set-ups and Commentary for Week 4/20/15

Last week I said the market would likely be choppy do down at the start and that it was a buyable dip if support held. That turned out to be correct. Once we got above 210 I said that level would become support. I didn’t anticipate that we would get all the way back down...

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Set-ups and Commentary for Week 4/13/15

Last week the SPY open interest told us everything we needed to know right from the start of the week. We got over the 207 level very quickly which was a tell that bulls had control unless that got breached. Once I was able to adapt to the bullish environment then my mind shifted and...

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Open Interest for Expiration 4/17/15

Tons of pinning last week. The open interest was super helpful to gauge our range and also got us into that huge LNKD winner. The open interest is also why I went out a bit further on TWTR and AAPL because the pinning was just too strong. Next week is the big monthly OPEX plus earnings...

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Will This Breakout Be For Real?

If you missed my Benzinga radio interview, check it out here. Last week here my bias was more bearish; however, I clearly stated that if we got above SPY 207 then the downside would likely be limited. My caution to be ready for multiple scenarios was even quoted in MarketWatch Monday morning. That information proved to be […]

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Open Interest for Week Expiring 4/10/15

What an exhausting and yet boring week. Yet, in the end many of the open interest charts once again proved to show the range we would see very well (the quarterly and the weeklies). This is the second week in a row that I pretty much had to just sit on my hands because really there...

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Set-ups and Commentary for Week Starting 4/6/15

Another week of trend-less activity and from the futures action Friday things don’t look so pretty. Of course we have to take into context that futures were open 45 minutes and a lot of the move was very reactionary, but perhaps it’s the start of the washout I keep mentioning I’m looking for before a...

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Market in Need of A Washout

I will be live on Benzinga radio this Wednesday April 8th at 9:00 am. Last week here I wrote both about the potential for a rally at the start of the week with ‘window dressing’ and potential for quarter pinning. We got that rally. Then I gave a specific level to watch for to determine if the […]

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Protected: March

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Open Interest for Expiration 4/02/15

Last week sure had a lot of pinning. The open interest was definitely very helpful in letting us know where stocks were very likely NOT going to go. Some of you even had some good shorts with stocks that got above their ranges. Good job on those! Last week was boring for the most part...

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Set-ups and Commentary for Week 4/30/15

Gross week in the market. I’m very happy that I took a lot of profits on the swings a week earlier and that I didn’t chase anything once I saw 211 on SPY not being able to hold. I definitely didn’t see that sizable drop coming or I would have shorted, but at least I...

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