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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 671.91

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Nov 14 4:00 PM EST

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To: Johnny Canuck who wrote (34805)	10/18/2001 2:35:47 PM
From: Johnny Canuck	of 68046

[ Older articles ] [RumorDude] Thu Oct 18, 11:25am PDT OPWV Just balancing out some of our long volatilty with some short volatility on our Nov options positions here. Sell to open Nov 7.5-10 OPWV call spread. [madtrader] Thu Oct 18, 11:25am PDT QQQ We are getting an intraday double bottom here. So I would expect the tape to try and rally here. long QQQ. Register for our newsletter [madtrader] Thu Oct 18, 11:19am PDT $DJI $COMPX Yesterday I thought bulk of the option related trades were squared away. With the action we got today, it certainly looks that way. After a small bounce in the morning, the market has simply drifted along. If you are a bull, drifting along might be the best you can hope for. The longer this goes on, the more effective it will be in wearing off the overbought nature of this tape. If you are a bear, there will probably be a better entry point on the short side later. For me, I think the tape is at a critical level right here. My oscillators are all pointing negative, but the initial "easy" short is out of the way. My 60 minute stochastics moving average indicator is sitting right on the 20 line, most would interpret this as near an oversold level. But what I have found in the past is that when this line drops below 20 is when the negative momentum really kicks in. So, as of now I don't want to leverage much in either direction. none. rumordude.com

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