The volume in the S&P looked low throughout the day but it picked up in the last 12 minutes where we saw some selling and UVXY went up. The market is showing resistance. The market went up too fast and has to come down real soon. There is no way at all that the S&P hits 1650 before it comes down to at least 1500. The games will be over soon.
yeah, 'markets' went nowhere but BAC up 5%! C set a new record. UVXY dropped...of course. And XRX was up nearly 2%. if you played options accordingly when alerted, you'll be making obscene 'big faces' today. Yes...'obscene'!
You are making your money now. No one can get in at the exact bottom. All us longs know a sell off will come. Obviously we were a little early and got our feet wet in May expecting the sell off to go down on schedule. That didn't happen but we know we are close. Within the next 4 weeks something is bringing this market down. There is more risk in the market if you are long at these levels. I'm not saying that this sell off will be big but maybe 5% then it is possible that the market makes new highs. The big sell off will come sometime when an announcement that QE is being pulled back. When that happens, try being short in UVXY and hold on tight. Keep averaging in on your PUT options when we will be in a huge bear market while you watch your options expire worthless. It's not a question of IF, it is a matter of when. Then you will be King Guppie.