Here is my two cents worth (because that is all I'm worth):
If everyone expects the price to go up next week, then why the heck didn't it go up this week? The price surely takes into consideration anticipations of the future, especially the immediate future of next week. Therefore, I think the price will not rise next week.
I also noticed a regular pattern of testing interim highs very early each day this week, only to see the price fall back and never fully recover. Perhaps this is irrelevant to someone with a longer perspective. Of course, my perspective was short because I had a batch of 60 calls that expired worthless. (They were not cheap because I bought them awhile ago.) Nonetheless, I wonder if this trend means anything and/or bodes of trouble challenging higher levels in the future.
Next, I will try some 55 calls, either April or July. Just like steve says, I'll buy them when the market is in a down swing, and I'll be patient.
KQB |
