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发表于 2010-10-29 08:51 PM
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Trick or treat!
I thought next Monday will be bullish as the first day of the month did recently and also when Friday is not up much since we had bullish Fridays in a row.
And also, today's closing prices are actually bulls friendly from the viewpoints of option current max pains. Furthermore, because today large quantities of indices call became in the money upon closing bell, it is not likely prices drop right away next Monday, at least, it is unlikely to gap big down open. Moreover, since global markets had been sold off before today's US GDP data announcement in fears of poor data but that data turned out to be in line with the expectation, not bad, I believe the global markets will rebouce big next Monday just like TSX did today. That will also reflect back to US market next Monday. So I think next Monday will gap up open and likely continue piggy between 119 and 118 or between 119.5 and 117.5. In another word, if next Monday goes up, it is likely Tuesday comes back down.
Big guys kept buying QQQQ and selling SPY for last few days. I am wondering why they are hedging now.
Happy weekend, anyway. Enjoy Holloween.
The bottom line, the short-term trend is up, I hold both long and short over the weekend.
Bearish biased toward the next Monday because still both VIX and SPY closed in green which means 10 out of 13 chances a red day the next day. And no, the 1st trading day of November is not bullish as most of you might think at least recent year, as according to Stock Trader’s Almanac, Dow down 4 of the last 4.
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2010-10-29 16:58
Enjoy your weekend! Oh, I bought lots of Chocolate for the trick or treat, but unfortunately, I almost finished all of them myself, with a little help from my mom of course. Just heard from TV that 90% adults steal trick or treat candy from their kids, hmm, feel much better now.
Cobra 发表于 2010-10-29 16:59  |
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狗仔卡
发表于 2010-10-30 07:57 AM
