remember today will likely play

    Shorting SPX here?

    Posted by matt on 3rd of Aug 2012 at 11:48 am

    remember today will likely play out like the standard trend days, see my post from this morning and posts from the past, they all behave in a similar way, look for some divergence later in the afternoon and watch the 60 Stochastic, generally stays above 80% either the entire day, or until the last hr.  MACD will eventually recycle back to zero and price back to the 50 SMA by the afternoon.  

    I hate these kind days, screws up a lot of charts, and of course it's Friday.

    One thing I am watching however are the weekly 140 SPY call options that expire today, they are trading for 7 - 8 cents.  As long as SPY closes below 140 today, those will expire worthless, I may sell some naked calls  on those to get the premium, I won't hold if SPY closes above 140.  

    Options

    Posted by winter39 on 3rd of Aug 2012 at 12:43 pm
    Title: Book

    winter39- regarding your question for a

    Posted by matt on 3rd of Aug 2012 at 02:25 pm

    winter39- regarding your question for a book recc on Options, I have only looked at a couple before, so I might not be the best source.  Zach or some others here might be able to point you to some more resources as they trade options more than I do.

    First off try Investopedia, it's a free resource. 

    as far as books, I've looked at "McMillan on Options" and "Sure Thing Options Trading" there were OK but I can't say if they were better than other books on options

    Free source for Options

    Posted by winter39 on 22nd of Aug 2012 at 05:28 am

    Thanks much

    This feels like short covering

    Posted by darnelds on 3rd of Aug 2012 at 12:01 pm

    This feels like short covering rally.

    yes

    Posted by law6 on 3rd of Aug 2012 at 12:21 pm

    all night could only find one stock that looked good and it was meli..made me think they would yank it up

     

    plus all the negative news

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