I'd love to see es touch 1383 before day is over. But I'm more than happy to see it touch the 1380's that early in the week. I learned my lesson to never heavily short this market, and for longer durations during end of year market holiday weeks.
Out of the last add from 1342.75. Still holding 2 more longs from 1377.5 and 1358.5. Bidding 1352.75 to add again. This market wants to go up, and we should see 1380's before end of week.
I smell a big rally coming. All the accumulations that took place the past few days will be well harvested. The market is quite oversold, and it's waiting for a little spark to ignite a nice rally to the 1420's. It would be nice if Apple leads.
The market is definitely oversold technically. Some fundamentals are supporting the sell off. Most importantly, the wealthy are engaging in capital gain selling and so long that continues, rallies will be short lived and relatively small.
Nobody knows if these block buys are in combination with block option buying/selling. It's hard to derive worthy knowledge from these block transactions without looking at these players' entire book.
So that will put us at 1635. I'll load up on the 1400 calls then going for 10 points to sell them for 235 points by thanksgiving. Not a bad return i must say. :D
JK- I know what you meant :)