Market Sense and Sentiment

[bbgold]

Yes, the bounce stalled a bit late day but looks to be carrying over into today, so far. It was interesting that the intraday chart for the FTSI closely mirrored the intraday chart for the Dow. Let's see if the trading patterns are similar today also. I think that perhaps the market will repeat the pattern it has been having, gap up and reverse lower, maybe. 9850 will still be a heavy resistance level to break IMO. Buying the Calls at the LOD yesterday looks like it would have been the right move. It seems to continue that buying the Calls at the LOD and buying the Puts at the HOD are the best moves to make as the market seesaws through the trading range. Holding a position overnight once again does not seem to be the best strategy as my Puts lost around 30% of their bid value overnight. The ask is not much lower than the bid was yesterday though. If I had picked up some Calls at the LOD then I could be selling them this morning for a tidy profit, though not any higher than the HOD yesterday. With the lower lows and lower highs, so far, I think that this may also become a failed rally, maybe.
Good Luck Bernard! :^)