End-of Month Fund Buying and Bullish Employment Projections Have Provided A Lift!
In the last nine trading days, the market has been caught in a tight low-volume trading range. It broke through resistance at SPY 115 and now it is waiting for information. We are in what I consider to be "no man's land". We need to wait for a follow-through rally or a reversal. Option implied volatilities are very low and it does not make sense to sell credit spreads. The momentum has stalled and prices could go either way. Wait for the market make its next move and then buy puts or calls. My gut tells me that we are heading …
March 29, 2010
• Posted in: Options
Comments are closed for this entry.