26 replies to this topic

[dcengr]

maybe ireland bailout news comes out after europe closes.. who knows.

[iloli way]

To continue my earlier three ES charts of today, this one clearly shows 1188 was tested with bullish bias, and no doubt next is the 1194 battle line, which comparable to NAV's entry, a good point for sure. We'll see.

[NAV]

maybe ireland bailout news comes out after europe closes.. who knows.

It will be over the weekend, most likely, in keeping with the bailout tradition.

Sorry my stop is SPX 1199.5 not 1198.5.

Edited by NAV, 19 November 2010 - 01:10 PM.

[andiron]

sell off not looking promising any more... could be headed to 1205 by monday

[tommyt]

sell off not looking promising any more...
could be headed to 1205 by monday

SPY has a huge open interest for Nov at the 120 line...expecting a pin there, contrary to any "big" move today.

[dcengr]

sell off not looking promising any more...
could be headed to 1205 by monday

SPY has a huge open interest for Nov at the 120 line...expecting a pin there, contrary to any "big" move today.

I posted that chart of buy write index for a reason.

Do you see those guys making money? No. Today is where they may make money if the calls don't come due. So do you think they get lucky this time?

[tommyt]

sell off not looking promising any more...
could be headed to 1205 by monday

SPY has a huge open interest for Nov at the 120 line...expecting a pin there, contrary to any "big" move today.

I posted that chart of buy write index for a reason.

Do you see those guys making money? No. Today is where they may make money if the calls don't come due. So do you think they get lucky this time?

dying options come in for sale and unless odd news comes out intraday, it gets pinned. mkt makers are forced to buy the puts and the calls, and hedge with stock to put on a backspread. at this point of the day, it rarely works, but when it does, its usually good, real good. so mkt makers in groups, with money, take those shots, they also hedge specific premium being bot, by selling it somewhere else...used to do it.

[andiron]

NYSE TRIN more than 1 thruout the day..should have been trend down day..instead we have a reversal.. another useless indicator.. A/D issues much better but it pretty much tracks the market...i did reverse like the market..

[TechMan]

I believe Ireland has a By Election coming up on November 25. Somebody can perhaps verify that. I really doubt that anything will happen before the election.

[arbman]

Put call volume went ballistic, I guess they are trying to sell a lot of premium at the last minute, the upside is pretty much done. Perhaps it sells off after the close a bit. But next week is a low volume week, it will probably either drifts up or goes sideways, I doubt any big sell off will happen next week... I think if it drifts higher next week, likely, it will sell them all down right after Thanksgiving. The cycle low is due and the market is doing nothing but churning as the speculation soars... This has to be purged before a sustainable move begins.