You Can't Make This Stuff Up

Call buying is once again extreme today. If I weren't living through this I don't think I would believe it. From the same people that thought the world was coming to an end six short months and 60% ago.

6 comments:

MarketCynic said...

Everyone knows the pattern, buy the dip at 10:30 AM and sell at the close for a quick profit. But who's gonna be the idiot buying the close today when they could have bought it earlier in the day??
Looks like everyone is looking for a strong close on opex Friday, I don't think its gonna quite work out that way...not with this kind of rampant call buying in a down market. Market is not that easy.

Chaos! said...

Some of that call buying has to be expiration related. Looks like the bears have the ball though.

Anonymous said...

We made a new high by 1.5%, as well as satisfied the need to touch 10,000 on the Dow.

SP futures were 1083.00 just before the JPM announcement of "blowout" earnings. GOOG an GS, two of the hottest and most bellweathered stocks of this rally, also beat expectations by a wide margin. Concurrently we saw Retail Sales and Industrial Production (as well as the Empire #) all exceed expectaions easily. Oh, and let's not forget a new cycle lows for both Initial and Continuing weekly jobless claims.

So where are S&P futures right now???

1081.00

This rally just ended, 10% pullback from here minimum. (stop at new highs)

JD

Anonymous said...

Why have T and VZ been doing so poorly?

Anonymous said...

I don't expect big downside with AAPL blowing out earnings again on Monday after the bell. After Monday however, it will be clearer where we are headed.

Anonymous said...

I will grant you that AAPL is a wildcard. However what I expect is that when they blow out expectations the market will yawn as it did with GS. Look at all the good GOOG is doing for the Nasdaq today...

JD