Nasdaq is leading again today, once it starts to move higher it will take the dow higher with it, get ready for the mid day run up.
this is too dangerous. the option folks may decide to push everything higher into expr to screw all Feb call sellers and put buyers. April 57 put @1.06 is my choice
S&P500 daily chart posted at my blog shows extreme overextension contained within the megaphone pattern. This pattern reminds me of Wile E. Coyote temporarily defying gravity after running off the cliff...
They say that over the next 2 to 4 weeks 80 would be a top, and depending on price action we would know if this would be a top of a longer term. This does not mean that price will get to 80, but that if it gets there, models say to expect a retreat. Currently price at 76 area, and is at the middle of estimated top price and the price where first support at around 72. XLE looks much stronger than,for instance, QQQQ. Model prediction for yesterday's XLE top was around 75.90.
I wish I read your post before I bought 58 puts. I bought at 0.19 and at 0.23. The move in QQQQs was much bigger than twice the move in options (time decay), so a longer term option were have been much better.
who is still Long at these levels? i am asking the traders who Swing trade, not the intraday crowd. does not one have to possess giant balls to be Long after the market is up 30% in 6 months?