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PCLN kissed its target (click above).
The "agro" sector on fire in the pre-market. SEED is up big.
If SLV stays above 18.07: breakout mode confirmed.
The biggest gainers of the next 4 days = to be selected on Friday.
No...next week: after OpEx!
If breakout happens, SLV Sep 18 calls would be my choice. Quite liquid: over 12700 open int.
Lee, I like your view of this Aug OpEx.
My IWM OpEx trade, on Friday:
Long n IWM Sep 61 puts (previously acquired)
Sold to open n Aug 60 puts (Friday).
Also bought (Friday): n/3 Sep 62 calls [to be sold during the expected pre-OpEx bounce...]
I will opportunistically adjust positions.
On the long run it could go lower. But right now I am, obviously, trying to guess a support before OpEx. After that…a different game.
Short term RUT: some formations detected since the end of May 2010.
The recent drop is punctuated by two “Extension Acceleration Scales“ (magenta & white).
The present level (which is also a -2/8 Murrey Math line ) could be a reasonable support. If it does not hold, the MM scale will shift to a lower octave and RUT will have a rendezvous with the 601 - 603.7 zone. Also, note the superimposed levels of both extension scales at 603.7.
No, I have very few positions. I am over 90% in cash and I daytrade opportunistically.
From Monday on, I will build positions for OpEx.
There is one thing: Da Boyz do not seem to be seriously willing to support the indices. My algo survey says that the button-pushing is short lived and intentionally gauche … And I know they are much better than that. In blunt words: THEY let it drop for a while so that the “turbears” [turkeys x bears hybrids] can claim early victory and get sloppy.
Thanx 3X! I was away from my desk and could no enjoy the MOT RAMPO. Let’s hope it goes on.
Something new on Android 2.2:
http://finance.yahoo.com/news/Google-amplifies-voice-apf-3924875452.html?x=0&.v=4
Interesting... WDC C/P today vol = 6/1