Discussion in 'Trading' started by noddyboy, Jun 22, 2007.
What is a chance that Monday is down?
Every time there is a dip it seems to be followed by a rally.
I hope it opens lower on follow through bearish sentiment. Want to buy it for the next massive hedge fund short squeeze. Commercials keep getting longer futures. Gotta waste all the put open interest . . . again.
Is the put open interest excessive compared to the call?
I am never sure which number to look at...I have the SPX 500, 100, Composite, Index and Equity numbers.
June 22 (Bloomberg) -- Fitch Ratings and Standard & Poor's
today warned investors that subprime-mortgage securities similar
to those responsible for the near collapse of hedge funds run by
Bear Stearns Cos. are deteriorating quickly.
Fitch said it may cut ratings on four collateralized debt
obligations valued at about $3.1 billion that are linked to some
second-lien subprime loans. S&P downgraded 45 bonds backed by
subprime mortgages and said it may reduce ratings on 88 more,
following similar action by Moody's Investors Service last week.
The only way Monday is down big is major bad news over the weekend.
Something real bad out of China would be perfect. Maybe the start of a new Asian Contagion.
I think next support on SPX is in the 1490s, seriously. If that breaks, watch out below!
No one is going to care about my opinion but the way I see it... big down move on heavy volume to trend support, bullish divergence and looks like an ascending triangle is forming on the daily charts. Daily charts are also oversold so.
We're going to bounce here. In a consolidation pattern right now, then a big rip higher on euphoria.
So far the poll is telling us more chop is on the horizon.
watching fast money, a few are worried about whats happening, Macke did say technicals are still holding up within the market. They said to watch 1490 on s&p, could be a good opportunity for a buying opportunity. A few said that a close below 1490 on the s&p could be worrisome.
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