Funny enough, the huge open interest in both puts and calls on October SPX is 1100 for this coming friday. I think Nitro your FV model might be right this time
For educational purposes I would love to know why does everyone talking about bonds diving? What is the correlation with chinese decision (let's assume it's not bluff)
Thanks
If chinese currency would appreciate against dollar then:
1) the cost of chinese labor would increase in dollars
2) Profits of Apple and alike (think the whole consumer sector) would fall
3) Market would fall
Correct me please as I'm not that sure anyway....
I'm not familiar with cases of FOREX being halted.
That said, if EURO would collapse more than 5-10% stock market is likely to follow and that would trigger halt on the NYSE.
BTW 1.15 is doable in 1 week from now IMNSHO
Well, there are couple of things which make me nervous to short here:
1) OEX P/C ratio
2) Unfilled gap on the VIX down at ~16.4
Both make me think of very positive report. Although this spike up might be the last one for a while.
Saliva has requested to report results on shorting sugar from friday - so I feel I must do it.
I woke up at 4 am eastern to see the market open. The moment thrust higher failed I shorted. In green so far and NOT giving up on my position anytime soon, unless we penetrate those highs or...
I'm a new guy to sugar market, but when I applied some TA to the chart on friday, I saw nearly classical topping "rising megaphone" pattern which in my books has a high probability of turning into collapse.
Disclosure. I missed a downturn in S&P so I now looking to participate in the Sugar...
I do agree that tomorrow is a rally day.
My reasons:
$BDI - positive
$VXV:$VIX - positive
Huge supporting volume around friday lows
Ton of positive divergencies on RSI, MACD etc
!!!!!!!!BUT!!!!!!!!!!
If market will decide to plunge (unlikely but still) this is going to be hell of...
Remember. Fighting deflation is a lost war in such overleveraged overborrowed world.
A warning for all gold-bugs out there from one very talented russian caricaturist
Part one is in this post
Part two is in the next one