So far (a whopping 15 minutes!), I'd have to say that that Hahn fellow came pretty darn close in time. Of course, gotta see what the rest of the day brings, but I admit I closed more puts, and I wouldn't be surprised if shorts do cover. We had a "successful" retest of the S+P low, and a slightly lower low on the NDX. It's certainly a good time for a bounce, though I'm unsure how far it can go in light of the fundamentals and such. I don't know how the SOX can remain 10% above it's April low when fundamentals have deteriorated as badly or worse in that sector compared to pretty much anything else since April. Anyway, bouncing off the lows gives bulls hope and gives bears pause, seems to me, so it's a fine place for it.
Nice uptrend in that VIX, yes, riding the top of it's Bollinger bands, too. But every uptrend takes a break. And hey. . . GE recaptured 40. Wonder if it can hold.
the freep |
