It looked like we were finally headed for an overbought reading this morning when the market turned south. It seems like every time the market is about to get oversold or overbought it turns around and goes the other way. Those looking for a low risk entry point are simply not being given an opportunity.
I am short a decent amount of out of the money puts and calls, so this choppy action is benefiting those positions but not allowing me to take more aggressive positions. Have a good night.