I wish, I went short yesterday after it popped back up seeing resistance just over 94.00. QM got sandwhiched between S and R levels so I was hoping I was going in near the high of the days yesterday. It did bump to 94.37 or so but I was not going to bail unless it closed at the highs. If inventory comes out strong I would like to get out today.
not sure about 96, but 1492 is a number that rings a bell (for obvious reasons - for most of us, this became a familiar number at an early age) but seriously, we seem to do a lot of work around 1492 going back several months.
Volente was making the case for high OI option strikes. Unfortunately for him, he keeps moving the bar. First it was the SPY 152-153, now it's ES 1496 [SPY ~149.50]. Which is it?
1496.50 (recent swing high from yesterday's gap up) MINUS 1439.50 (swing low) = 57 1465.25 (overnight low) PLUS 57 = 1522.25 (which happens to be pretty close to resistance levels--Fed-induced euphoria from a week and a half ago). If ES hits 1460 (today's low, minus a few points so as to avoid being stopped out unnecessarily), then it can be said that I am wrong.
optioncoach let a small piece ride.. I am holding some for my next target is in the 87.50 area on jan contract.... still has a ways to go. Were talking 15:1 R:R
First target has been hit on this trade here is an update on the PA Before... http://elitetrader.com/vb/attachment.php?s=&postid=1679336 After....
interesting IVB/OVB/IVB set up on 15 min....may put a cap on this if we can`t hold 70. looking for another leg up for a conservative sell.