Market is churning...

Decliners are leading advancers yet up volume is > than down volume.. classic signs of a market churning higher with the broader indices posting gains..

I am betting on a swift reversal to the downside coming soon.


--MIKE

 

R U trying to rain on my rally??

 

Market is top heavy.. I am not calling for a crash.. but I am selling calls on SP500.


--MIKE

 

Never going down again. There i said it. Someone had to.

 

which calls are you selling and at what price?

could you tell us the closing end of this trade when it occurs please!

 

PPI tomorrow

 

ignore list?

 

hmm. i saw it different. I see that the market is advancing much more this month and when it is down, it is mild. I am nervous about my shorts. I see about 4 up days to every 1 or two down. seems to me it has upward pressure. I would like to hear more about your S&P short trade and why....

 

i sold 10 SPY NOV 123 calls for 1.25..

to note i am still long stocks like JWN, BHE, to hedge the trade.

 

thanks and good luck with the SPY trade!