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...
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...
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...
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,...
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 […]
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....
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...
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...
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...
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 […]
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...
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...
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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