SPDR S&P 500 (SPY)

[Fox13]

BE, let’s forget about TA for a while. If your broker provides a time/sale table, you will easily see in it that, in the early morning, HUGE packs of QQQ.OR at the money puts were bought at the ask (in green) by some “people” who were willing to take a risk. Also at that time all the foreign markets were “hypnotically” down while we were up and cheap. So, Blasher , I and others simply jumped on the wagon. Well, now, the reverse: THEY are selling more than buying. Why? 1). It is Friday and we don’t want to spend a week-end holding lots of puts with their stinky time decay; 2).The market is tired of a dull slow retreat without any juicy bad news; 3). Hillary cried last night shedding crocodile tears, at the end of the debate, a fact which has a valedictorian resonance - and therefore is bullish. So, one might go long for a quickie. When? When you see lots of puts being sold at the bid. Regards, fox