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