Yeah. I dunno. Maybe, maybe not. I realize one can't base strategies on what-ifs... but there sure has been a lot of whale activity on SPY puts 20% plus out of the money. And it's not the normal hedging activity, not that low and that far out. Also, the vix has dropped nicely, but the premiums on those puts hasn't budged, in fact several strikes went up. Why? Beats me. Unknown unknowns I guess.
Everyone seems to be hoping for a little pullback today to get long into. Since the market screws everyone, I guess that means we do the unthinkable and dump all day, or we just grind up without much of a pullback to let ppl in. Personally, i'm with the crowd. I hope for a little pullback to get long again for another push up. Would like an entry somewhere around where my premarket long was maybe
I already closed down the shop for the day. 17 points. Just watching on TradingView from my soul sucking day job now. If the current LOD holds the expectation would be a push above the current high, but I'm not so sure how high this can go. Maybe 4180. Or maybe it will simply run. Say 4200. Not my ideal day as the market already ran a lot and most of my weekly/daily biases are already exploited.
If the current LOD breaks we will probably see yesterday's close. But can still make a run for a new HOD on the day from there. Tricky. Define "this way"?
Seems like "this way" ain't too shabby. 4180 tagged after bottoming out at: I couldn't help myself when I saw the market bottoming out, so I got back in long and added a 2nd contract on the pop above the HOD knowing for sure I'd get at least 80. So, that's 37.50 points on the day and the best day so far this year.