Without doing a whole presentation--big scary down bar trading 30K+ contracts in 1 minute => buyers buying into the low of the day. A couple of minutes later, it breaks the low and reverses up, again, trading 16K in 1 minute. Pushed up, and bought the 52. But, I was early. The final buying was into 50. 30K in 2 minutes. Then it bases at 49. At this point I was tired and didn't buy it any more, at the exact time I should have. Target was 58, an obvious target and probably will attract sellers again. I'm spent from today, what an emotional roller coaster, first nap time and then all hell breaks loose.
When there's crappy news like S&P downgrade, etc., and scary big red bars, it's a great time to buy. I just did it about 10 minutes too early. This market has been up, up, up, last week, and it's possible (not saying it is) that this news is like anything else -- just an invitation for the panic to attract more sellers, so that those who did not buy at the open yesterday at 48-50 can get on the train before it moves up yet again.
