Both the ISE and CBOE Equity only 10 day moving averages are in the area they were in at the January top. In January the market chopped around for a few days and proceeded to go down right after options expiration. Sound familiar?
I literally had my finger on a sell short order at 3:59 and did not press down. I don't plan on putting on a big position until expiration but I think the current juncture probably warrants some sort of short position. I will be looking to short any further rallies. Have a good night.
3 comments:
Don't wait too long. Most of the starts are aligned!
I was thinking the same. Any further rally is a gift.
I am now losing on all my short positions. I won't be averaging down this time.
Everyone is bullish bullish. They think we are taking the next step higher without any pullback. What, right to 1200+ with no pullback?? I don't think that has happened, ever.
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