Thursday, November 19, 2009

When its time to relax, one Waxie stands clear...

Tell ya, this market is gonna pop very very SOONNNNNN.

Which way you ask? Well, good question and a good question deserves a good answer, don't it?

How about this, since its so close...

If we bust and break below 1100 here we may crawl back down to the 1075 area pretty fast, but more then likely it acts as support baring some bad news and we at least try to taste 1125 area. Tough to trade such a narrow range. I was out all day running errands, but basically my acct was exactly where it was when I left, almost to the dollar (since I was down on the day when I left, I returned to down on the day when I got back!).

Only thing that changed was that the stocks I was down on when I left were up mostly and LVS which I still own 250 calls on, was DOWN!

Thursday watch for a few fades early both ways and then I think the market will probably pick a direction. 1100 is key, and the Nasdaq is right at crucial juncture as well.

I think we want to wait and see if 1100 holds here. First things first. We've held so far, we shall see soon enough!

Remember, its options expiration week, volatility will increase and pin action will become more likely starting...TODAY!



1 comment:

Brett Buchanan said...

I just joined your affiliate program and placed a few banners on my site;

I've been ghost-writing material for, which is Greg Simmons blog, another prop trader.

I'd like to talk to you about opportunities to expand my affiliate network as it relates to promoting your product. My marketing partner and I are about to launch a substantial network of blogs designed to direct traffic at this kind site ( for instance). I can be reached at; brettbuchanan [at] yahoo [dot] com.