It Was This Close

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:

Chaos! said...

Don't wait too long. Most of the starts are aligned!

Tsachy Mishal said...

I was thinking the same. Any further rally is a gift.

Anonymous said...

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.