Replies to post #493 on Invesco QQQ Trust Series 1 (QQQ)

[farooq]

Added 2X march 44 Puts @ 0.83 Cents. There was a big buyer who took 20,000 contract at 93 when bid and ask was 91, 92. That put upward pressure in short term.
I could be wrong, but in coming days weakness is possible.


Edit: I am leaving my desk for few hours. See you later.
I have placed a order to close my puts at 1.10 see what happen.

[droma]

Nice escape, Roy. Lotta whip in the signals last two days. I'm not seeing many clues as to which way this is going.

Skip

[pstuartb]

OT - HBs and financials diving along with retailers. Rut conspicuously weak. SPX looked like it was backtesting the breakout level of 1367, but then fell below that by a few points.

The jury is still out on how the trading range resolves, but I find today's action meaningful. I had thought we might rally into early March to work off the oversold breadth readings, but I'm beginning to change my mind. Resolution of this trading range to the downside now looks much more possible to me.

I'm watching the 85 level on $BKX as a tell.

Still short DHI from yesterday at 16.83 and happily so.