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...
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...
Quad witching over, hooray! We are back to the weeklies which typically have larger changes as the week goes on. The good news is even if the market is choppy next week I see a lot of good opportunities with these momentum stocks. The open interest and the technicals have aligned well for next week and...
Last week was an AMAZING week for us. Not only did our short term trades work very well, but the swings we bought on dips paid off handsomely. That is the thing about this market. If you buy with good timing then you can sell when others are chasing. I would like to continue this great...
Monthly OPEX is upon us so expect less movement in the open interest as the week goes on because many of these puts and calls were bought over a long period of time. That also means that the likelihood of these stocks staying within their ranges or pinning is pretty good. What’s interesting about next...
Last week I had expected us to make a lower low, which we got. I also said that I was looking for a bottom within the next couple of weeks. It’s unclear if we have hit a secure bottom yet, but from the looks of it, if we haven’t there probably isn’t much lower to...
I was expecting some consolidation with a possible pull-back last week and we got both. I had mentioned that it would be better to buy dips than breakouts and that patience would likely be rewarded. The set-up for next week is going to be tricky as I do expect a bounce, but I also expect...
I mentioned last weekend that the set-up wasn’t as favorable for taking many trades and that patience was going to be key. As usual the open interest gave me many clues as to what kind of market we would be facing and it didn’t favor chasing breakouts or being too eager to buy dips. Next week...
Troubled Markets Ahead
First, I just wanted to thank all of you that tuned into Fox Business during my appearance last Tuesday. I appreciate all the support I have received as the media is still very new to me. Here is a link in case you missed it. Second, I wanted to mention that I will be attending […]
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