viewer wrote:Cobra, this is the Momorial week. Should be bullish, right?
see my weekend report. should be next week strong.
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Cobra wrote:here comes the retest of the morning high finally.
I think that this “rampo” started too early in the afternoon. However, if THEY can keep it going and close above yesterday’s high (1323.72), it would confirm the solidity of the Sq. of 9 support posted this morning (~1315). An UP continuation tomorrow should be then expected.
usually that is a bearish trade as MMs will not usually buy calls naked/outright but instead with delta against them. Those trades make money when the mkt sells off, not rally.
pablorynx wrote:Cletus, re: your comment on MMs buying calls
usually that is a bearish trade as MMs will not usually buy calls naked/outright but instead with delta against them. Those trades make money when the mkt sells off, not rally.
That sounds right. I stand corrected.
But I am somewhat bullish on the markets right now, so I don't know.
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the bigger picture: what I was most afraid of for bears may turn out to be true - a 2 legged up from here.
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