I wrote this in the week of Brexit week. As a tape reader, I don’t really care what the pundits are saying. However, during this waiting period, the volatility is very low shoving short-term traders to the sideline. Meanwhile, the range-bound market does reveal some decent opportunities. SPY shows a resistance at 209.50 earlier in the day. It tumbles to around 208.10. I captured tiny pieces of the move seeing it is not a market to stay long nor short at the moment. Other than that nothing is exciting to write about. (Disclaimer: the author wrote this article for himself, … Continue reading 2016-06-22 Wed
When I read the commentaries yesterday from various sources, most people are very bullish seeing IWM formed an island bottom, and QQQ showed sign of reversal. This is contrary to what I sense from the market sentiment. Anyway, the different point of views make me nervous about my option. I could be wrong, and that’s what makes the market interesting. Coming to Friday, $SPX reversed to the downside erasing most of the gain from yesterday. The same applied to IWM. At the time of writing, it would be important to see if $SPX closes above 2,040. If so, by how much. On … Continue reading Market Condition 2015/03/13 Fri
There is no doubt we are in the longest bull market since 2009 when $SPX was <700 to the current >2100 high. Despite all the concerns about rate hikes, economy slowdown, Greece, Russia, and China problems, a monthly chart still tells us that the market is very bullish. However, the market sentiment starts to concern me. The recent pull back does not lead to lots of fear on the street and the media. In fact, complacency is a signal that market moves down is not done yet. I will be sitting sideline watching. Anyhow, shorted ACAD at $36.36 and covered … Continue reading Market Condition 2015/03/12 Thu
Testing Continue reading Hello world!