Two weeks ago here, I wrote that if the SPX gaps filled it was a good buying opportunity. Then last week here, I wrote that the market would likely grind higher once again and possibly break new highs after the Wednesday SPY expiration. Yes, yes and yes! Open Interest: SPY-W: (29 of 37 pins since Wednesday […]
Last week here I discussed that the overall trend was still higher, but that bulls needed to “curb their enthusiasm” as there were a lot of open calls that would act as resistance for both the Wednesday and Friday SPY expiration. I then updated that during the week over twitter with the message that bears should […]
Last week here I wrote “For next week, if SPX stays below 1872, then assume all bounces should be sold and price is likely headed to 1850, and then near or below 1812.” Furthermore, I posted the open interest for SPY which suggested a close over 185 by Friday. Somehow, both things worked out even though […]
Note: I will be on Fox Business Tuesday at 4:00 pm so please tune in :-). Last week here I wrote that the most likely scenario would be a choppy start to the week followed by a rally in both equites and treasuries. That was right on and those prepared for it were paid handsomely. Keeping […]
Last week here I wrote that we were likely to bounce, but also to make a lower low. Both did indeed take place. The question now becomes have we bottomed or is there more downside to come and if so, how far? A look at how oversold the market is: 20-day highs went below 5% which […]
All day long, WTF goes through my head. Musk had a mixed day…..TSLA taken out back, SCTY rises like the sun (except in NYC where it never rises anymore). PCLN almost did a round trip. Get it, “trip.” Ok never mind, lame I know. If you think you know something, you don’t. Or I don’t. […]
I am recycling pictures from last earnings. Honestly not sure why so many people went long TWTR before earnings. Not that I’m hating, but it wasn’t like they did anything meaningful to make me think metrics had changed. Plus even earnings beats have been beaten up this season. Anyway, if you are down, I am […]
I said it yesterday and I will say it again today….this market is on crack yo! Last year the bulk of my profits came from swings, but in this environment you can make so much intra-day if you play it right and have no overnight risk. And the greatest part is if you miss a […]
Your Open Interest Map to the Start of August
Last week here I gave you the SPY parameters for both Wednesday and Friday (and updated them over twitter). What you did with them I have no idea, but they worked well (see below for last weeks pin information). For newbies to open interest, knowing where SPY won’t go is often just as valuable as […]
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