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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: The Ox who wrote (16953)	4/17/2015 2:49:30 PM
From: robert b furman	Read Replies (1) \| Respond to of 33421

Hi Ox, I'm leaning to your position. I bought spy last week and it had support at 207 with a minute di to 206.95 - so we may be finding some support. There is no doubt options expiration is having an effect. I always watch T and it is battling 22.50 and 23.00. There were a ton of calls open interest at 33.00 so you know the MM wanted them to go worthless. There were a ton of puts that will have stock assigned - so I'm expecting early next week to have some post option expiration. Let that work out and we could well be at new highs. Heck the vix was below 13 yesterday and this dip seems to be very news driven : grexit, short margin rule changes in China - all before earnings come out. Intc preannounce and beat with annual guidance left the same. There is a lot of good business going on out there. More noise than there should be in my way of thinking. I'm gonne suck it up and grin and bear it a bit more. I did not jump back in with spy at 207 was waiting for the battle at 204 ish. Strange price action the last several minutes ?? screencast.com Bob