Market is churning...

Trend Fader · Nov 14, 2005

Decliners are leading advancers yet up volume is > than down volume.. classic signs of a market churning higher with the broader indices posting gains..

I am betting on a swift reversal to the downside coming soon.

--MIKE

patoo · Nov 14, 2005

R U trying to rain on my rally??

Trend Fader · Nov 14, 2005

Market is top heavy.. I am not calling for a crash.. but I am selling calls on SP500.

--MIKE

Restricted · Nov 14, 2005

Never going down again. There i said it. Someone had to.

rubberbird · Nov 14, 2005

Quote from Trend Fader:

Market is top heavy.. I am not calling for a crash.. but I am selling calls on SP500.

--MIKE

which calls are you selling and at what price?

could you tell us the closing end of this trade when it occurs please!

MacroEvent · Nov 14, 2005

PPI tomorrow

areyoukidding? · Nov 14, 2005

Quote from Trend Fader:

Decliners are leading advancers yet up volume is > than down volume.. classic signs of a market churning higher with the broader indices posting gains..

I am betting on a swift reversal to the downside coming soon.

--MIKE

ignore list?

dac8555 · Nov 14, 2005

hmm. i saw it different. I see that the market is advancing much more this month and when it is down, it is mild. I am nervous about my shorts. I see about 4 up days to every 1 or two down. seems to me it has upward pressure. I would like to hear more about your S&P short trade and why....

Trend Fader · Nov 14, 2005

i sold 10 SPY NOV 123 calls for 1.25..

to note i am still long stocks like JWN, BHE, to hedge the trade.

rubberbird · Nov 14, 2005

Quote from Trend Fader:

i sold 10 SPY NOV 123 calls for 1.25..

to note i am still long stocks like JWN, BHE, to hedge the trade.

thanks and good luck with the SPY trade!