Wow, fade this opening..

I just sold a massive amount of call options to close (including 40 CAT June call option contracts, for a 280% gain).

I also closed out several stock positions.

I am very much divested now.

Good luck everyone.
 
My prediction for the close is .1% down from the current prices - that would put SPY at 148.00 and DIA at 129.00. Nice round numbers for options expiration.
 
I think a DXD entry may be a great one week trade here.

On the fence.

VIX has dropped near the same levels that preceded the Feb 27th blowoff.
 
ByLo:

You da man!


Quote from ByLoSellHi:

I just sold a massive amount of call options to close (including 40 CAT June call option contracts, for a 280% gain).

I also closed out several stock positions.

I am very much divested now.

Good luck everyone.
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Although I think we're going higher next week, the original poster wasn't all wrong. We've been going lower since the initial pop this morning.
 
We're better off from a technical standpoint having a fade today because Friday usually has less volume than the other days of the week. If we're gonna breakout huge it might as well be on high volume.

Also, how much money can you make from a 3-5 point fade? not much I'm guessing. Don't get too excited about it.

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Look at the VIX power back - eventually the DOW will break below 12,920 and hopefully soon they will quit showing those stupid "DOW xxx points above record close" banners on CNBC.
 
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