Tuesday, December 14, 2010

As exciting as watching flies … mate

Not counting selling into the close which produced almost reverse hammer looking daily candle on SPX – there is as much excitement and opportunities to make money in this market as… you fill the blanks.  Unless you sucking on bleeding theta (the one the coming out of my 5 months out long puts I still hold) – I doubt that you make and, most importantly KEEP money last few weeks.


Here is 4 hours chart – price action within TDST and TDRL…boring…


Daily … wait up… this looks more interesting – with tiny TDST/TDRL range (yellow) we might want to be prepared for sudden move.



Weekly…hmm – wave 4 is right at 76% retrace (blue arrow ) and there is negative RSI divergence (yellow rectangles)


Same chart (weekly) – zoomed 1220-1280 range is a no man's land…I am patiently waiting for resolve…one way or another


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