Short Term Trading Member Forum

[DowDeva]

Chuck, I don't know. It seems like there's lot of open interest for important July strikes in issues I look at. For instance SPY 198 and 200, AAPL 100, etc. Typically large open interest is resistance, but, as you well know, not always.

It leads me to think that we may not break the 'big numbers' by July OPEX, but we may certainly reach them.

I am also see a lot of out of the money OI in calls in September. I am hypothesizing that the rally may continue till then, with some corrections, and that's when we may breach the important 'zones.'

This is all just musings.

My post about beginning to place calls was based on a very good study that said one of the two best times (almost 90%, I believe) of a winning trade was to go long the Wednesday before Opex week in July. The other one was in November. I'll post it later.

In terms of Hurst, the 40 day cycle seems to be dominant, with the last low in late June. That would make the next low in August.

As far as the larger cycles, you guess is as good as mine. What's the Elliot take on it?

~D