SPDR S&P 500 Message Board
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Next Week Looks Like We Grind Slowly Higher
Market is still extremely oversold and trending higher. Unless the market receives extremely bad news next week I believe we will grind slowly higher a lot like the last three days. With that said, I would not be surprised to see a few nice rips here and there as we clear market resistance.
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Looks like this week is going according to plan. Market is now extremely overbought but given that it is not in a channel yet it really does not matter.
- 2 Replies to nyctom_2000
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Any change in market direction now, nyctom? The market pretty much tanked all afternoon right after you posted.
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NYC......damn, should have listened to you and went to cash this morning.
My guess is that the market will stay overbought into January. I should have held my (50) SSO calls, but couldn't take the chance of a trough this close to Dec opex.
As always...thanks for your input........
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Market is slowly but surely trying to work off its oversold position. Looks like it may take two to three more days.
- 1 Reply to nyctom_2000
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Nice......I added (20) MCD JAN13 $85 CALLs and (10) DDM JAN13 CALLs, for the melt up.
They jammed MCD up this am +$1.12/sh, waited for the fill and bought in. They are squeezing it back up now at low-volume.
I see, there are a lot of TZA call fools here. Luv'm up.Sentiment: Buy
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NYC....that's what the charts look like now...melt-up time into January? It looks as if the STOs will stay in overbought territory for awhile?
I added NOC JAN13 calls last week. I'm looking at MCD JAN13 CALLs and some DDM JAN13 CALLs next week. Looks like we are going for the previous highs or higher?
I don't mind a slow grind north. May be a little frustrating for day-traders though?
Thanks for the update.
Got so many "fwiends" on this board now, I'm running out of explicatives.Sentiment: Buy
- 1 Reply to plashadpobedy
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The last time I looked at the numbers, a new high looked in the cards. With that said, it will probably not be straight up.
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