Archive for November, 2009
Watch For Choppy Light Volume Price Action With A Bullish Bias!
The market continues to chop around in light volume as Thanksgiving approaches. Last Thursday’s decline and today’s rebound have come out of nowhere. Overseas markets traded higher with Europe adding more than 2% in Asia adding more than 1%. Sellers raised their offers, pushing the market higher on light volume. Existing home sales rose 10% in October and they are at a 2 1/2 year high. Buyers were taking advantage of the government’s tax credit before it expired in November. This news release should support today’s rally, but it did not cause it. The stock market was already up substantially before …
Sell The Rips - Buy The Dips. Put Credit Spreading Opportunity Ahead!
This week, the market broke out to a new 2009 high. It was not able to add to those gains and profit-taking set in. The S&P 500 dropped quickly after yesterday’s open and we were down 20 points in a heartbeat. That selling pressure has resurfaced this morning and the futures are down another 8 points this morning. Weakness in global markets sparked yesterday’s decline. Initial jobless claims, LEI and the Philly Fed were all in line and they did not cause the breakdown. The market has fallen below SPY 110 and we have a failed breakout. A small push higher …
CBOE, CFE and CBSX Thanksgiving Holiday Trading Schedule
CBOE, CFE and CBSX Thanksgiving Holiday Trading Schedule
CBOE ELECTS EIGHT INDIVIDUALS TO BOARD OF DIRECTORS; Public Directors Duane Kullberg, Susan Phillips, Samuel Skinner and Howard Stone Re-Elected, Industry Directors Mark Duffy, David Fisher…
CBOE ELECTS EIGHT INDIVIDUALS TO BOARD OF DIRECTORS; Public Directors Duane Kullberg, Susan Phillips, Samuel Skinner and Howard Stone Re-Elected, Industry Directors Mark Duffy, David Fisher…
A Marginal Breakout Follwed By A Sharp Drop Signals Heavy Resistance!
My cautious comments over the last week were justified. The market has pulled back sharply this morning. Granted, I thought we had the possibility for an expiration short squeeze after the market nudged its way to a new 2009 high. However, I have been urging you to keep your size small and to focus on put selling opportunities. I also noted that I would only be trading from the long side on an intraday basis. The recent rally has taken place on light volume, telling me that a lack of selling (not intense buying) caused the run-up. I have also been …