I think TraderJoe might be on to something...we went way to high to early..if you go to the 6 month chart and draw the trend line to the bottom...we are touching it now...so this is a very good sign for nice smooth upward movement..
Come Monday if this level holds I think I'm getting some Junes.
I can't say this for the whole market..but maybe these down days are bringing us inline and will keep away a huge correction....but at any rate we're touching that trend line.
brian, you are correct on this. i loaded some feb 630 calls and sold some 610 puts and pull in some credits so does not cost me anything. analysts are upgrading this to $800. option expiration today made it cheap. should load up for feb and march while they are cheap.
I think this thing is going to fling upwards. They'll be a flood in just like at the beginning of the year. The last day of the year market had a similar action (of course on low volume). The new year had an influx of money coming in...I think we have a similar situation.
Last month Dec. 17 same bending happening...on Monday bam!!! 3 days after the Friday it was up 20 pts. (not alot but that was December).
One thing I would like to know is what was max pain last earnings...I have a suspicion it was reverse from what it is now.