Options Wonderland

[~6979~]

3X,you could very well be right...on the surface it may seem that government has everything in control with all of the 'financial help' it is distributing...

As much as I dislike JPMorgan and its ways of business...Jamie Dimon came out and told everyone thursday on(CNBC) that the real-estate market could go down another 20%...if anyone is in a true position of making such a statement, it would be the ceo of the biggest American bank...After that interview,~SRS~ went straight up minute by minute...It was amazing to see such a rally without a single retrace for hours... I suspect that alot of fridays action was ~IYR~ short covering...I believe ~SRS~ will continue down monday...How long it stays down there is what Im analyzing for my next trade as well as at what price level...again,the 60.50 range keeps coming up in my technicals...

What would invalidate my ~IYR~/~SRS~ analysis is if/when ~IYR~ breaks above(and stays above its 50 day moving average for multiple days)...When that happens,I will consider a long ~IYR~ position...

As for now,I still fall into the bear rally state of mind......there is plenty of room to move up of course...but this market is once again heavily news based...Its not going to take much to set the bears off again...Another thing that I noticed about ~IYR~ is when the bears take control there was absolutely no resistance(thursday),when the bulls take control(friday),they can win but its a fight...

~$VXB~ has been quiet lately...Its at a critical point in support/restistance terms...something big coming,and I doubt its going to be this market slowing down...

Big week coming up here friend...I hope every one of us makes some good money...you guys have a beautiful holiday...