major covering rally before close or tomorrow morning? what tape are you talking about? there is no tape for es. You mean t&s?
the worst is over... accumulating multi year long term long positions in all accounts without the use of leverage.
market should close above the opening price today for a true reversal. 1206 retest of 5 minute trendy..
9.25pt a pop. vix at ~35, expires tomorrow, and all positions cash secured. I will take assignment at 1150 if it is hit.
Kudos to you should that truly happen. But I highly doubt it. Plus, the market is shifting gear from the credit meltdown to outright recession. So I see your point about a possible multi-year reversal as moot.
I think about this SEC ruling and I think rally this afternoon. This is option expiration week, this is week of quarterly expirations, the powers that be have already wrung out the downside, now it's time to screw the put holders.