1. We are oversold ladies and gents as such, from a risk to rewards point of view it's rather silly to be buying puts here. No big fish is gonna open position done here, that's only dumb money like you and I that's always late to the party so they can squeeze us out with a bullish rally. RSI : 24.55 on daily chart.
2. Vix is getting rejected, sure we had a surge today but it did not, hold through is resurgence but died down and came back down. We should be testing 20's before any more bearish continuation. looking for a break of 25 first.
3. Lastly, the market needed something to ignite the relief rally and that might have had been $APPL this evening with it's earnings. This might just be enough to lead the rally tomorrow should be a very interesting and the last day of the month on Monday should be interesting as well. could see some amazing volatility to trade.
However, don't expect the market to break out to new highs just expect a relief rally where the wales can dump and open up the short positions maybe 460's or high 450's before we continue going sub $400.. the bull market is coming to an end. DO NOT GET CAUGHT UP WITH BEING A PERMA-BEAR OR PERMA-BULL!
2. Vix is getting rejected, sure we had a surge today but it did not, hold through is resurgence but died down and came back down. We should be testing 20's before any more bearish continuation. looking for a break of 25 first.
3. Lastly, the market needed something to ignite the relief rally and that might have had been $APPL this evening with it's earnings. This might just be enough to lead the rally tomorrow should be a very interesting and the last day of the month on Monday should be interesting as well. could see some amazing volatility to trade.
However, don't expect the market to break out to new highs just expect a relief rally where the wales can dump and open up the short positions maybe 460's or high 450's before we continue going sub $400.. the bull market is coming to an end. DO NOT GET CAUGHT UP WITH BEING A PERMA-BEAR OR PERMA-BULL!
Comment:
just cashed in a 500% play on $SPY 439C from low of 12 to 77
