Relentless Push Higher Today – Option Expiration To Blame?

April 16th, 2009

Surprise, surprise. Another late day rally sparked today after what was shaping up to be another mixed to flat trading. I don’t really blame or give credit to option expiration, but there is definitely some positioning going on for the big boys. As far as the short portfolio is concerned, it wasn’t as bad of a beating as most of you would think. Yes we took a very clean haircut on some short trades, but stocks like AEM below – which was down just over 7% today alone – more than made up the difference. Some of the other retailers we shorted were also down today – only 1% or so but still down given the rally.

 

aem

 

I have some very important charts and indicators that I am going to show everyone tonight on the Trading Video. Mainly that volume is drying out as we move higher and some very bullish candle patterns are starting to take shape. In a nut shell, it’s starting to smell like a very profitable trap for the bullz. Everything from the VIX to Oil and the Indexes are stretching and holding on as tight as possible. Our day will come bearz.

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