3.02.2009

SAME OLD?


Markets are way down and trading near the lows of the session- the fish is looking for some kind of bounce to short as this is a classic - "markets to close at/near the lows" day.


NYSE- 2600 net losers;

NAZ- 1800 net losers;

NDX- 3 GREEN;

OEX- 3 GREEN;


VIX- higher by 11% at 51.6;


GOLD claws back to the green at $943;


Crude - climbing back - trading at 40.38;


SPX trades at 708 and its pretty clear that 700 is the next stop - and probably an area where a lot of the shorts will cover for a temporary reprieve.


LONG SRS and looking to reload on any kind of bounce - me and the rest of stocktwits universe.

2 Comments:

Anonymous JJ said...

FWIW, I think we are putting in a tradable low. I'm selling some naked puts and buying DITM SPY calls.

12:31 PM  
Blogger DAVID said...

You may be correct - and tomorrow is Turnaround Tuesday - but today we probly close at/near the lows. Works about 90% of the time i think.

1:00 PM  

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