Yep feels like I am.. my trading demon has come back xD the power of christ compells you. Although I really do feel we are going higher from here. Im ok with taking a loss.
I think once we push into positive territory on the dow we should see program buying into new highs. We are due for a pull back.
To my reckoning, SPY open interest at the moment suggests 133 or so at opex. Volente, would you agree? [edit: having said that, this market's looking weaker and weaker by the minute ....]
Stopped out. Bleh. Bad day. What annoys me the most is my short trade woudlve worked out if I let it hit my stop.
depends on how many puts are wrote into the down move. Watch for interest to jump and the squeeze will follow. 129 is a key level. Lot of support between 1270-1290. If I had to venture a guess I would say we could trade down to 127 to suck in premium Keep in mind the market is set up to screw the majority
Very true. After just reading what I wrote, its completely obvious that emotions are controlling my trading today. I said I feel 3 times in my writings today. The market doesn't care about what I feel. Learn and move on.
So, in other words, watch today's put volume? (Lots of 130 puts being written, but even more 131 calls)