Options Supplement: February 3, 2016 Action in the markets today swung wildly between gains and deep losses. The S&P traded in nearly a 900 point range as volume surged and an afternoon bounce managed to turn what would have been a back to back triple digit down day into a triple digit gain.187 held as […]
Options Supplement: February 2, 2016 What a difference a day makes. The markets returned to early January form today with premarket losses that snowballed during trading hours resulting in a roughly 1.5% loss in the S&P. A second straight weak day in Europe and overnight selling in oil was too much to overcome and […]
Options Supplement: February 1, 2016 The first day of February was a mixed bag in the markets. Some weakness in China and Europe initially weighed on averages. Oil was down early and continued to slide into the close, finishing down nearly 6%. If this sounds familiar, it should- this was the recipe for a […]
OTC: February 29, 2016 S&P 500/ SPY: The danger that stocks ran too far too fast was realized today as the 195 breakout failed to hold and closed back down into the old 187-195 range and right at the lows of the day. This does not bode well for any bulls short term as […]
OTC: February 28, 2016 S&P 500/ SPY: The follow through that was expected after closing just above the 195 breakout occurred right out of the gate on Friday and took us all the way to 196.68.The rest of the day saw a slow grind back down to settle at you guessed it 195.This puts […]
OTC: February 24, 2016 S&P 500/ SPY: The day started with big follow thru to the downside as oil was once again lower and after hitting the 195 exactly yesterday the tone turned very bearish.The intraday moves now are so large that even a drop to 187 would not have been a surprise. The lower […]
OTC: February 23, 2016 S&P 500/ SPY: The first hour it was still a question of will we take out SPY 195 as the indexes held yesterdays closing area but after the Saudi oil minister declared that they will not be cutting supply anytime soon $20 oil is now a possibility sending oil and […]
OTC: February 22, 2016 S&P 500/ SPY: Stocks had another gap up today after the weekend and Fridays slow consolidation. There was no main reason to attach to such a strong move up except the old oil is strong again correlation theme. This caused the XLE energy stocks to go up 2.55% which helped […]
OTC: February 21, 2016 S&P 500/ SPY: A slow day.We haven’t been able to say that for awhile but it was and after the huge run up it was very normal action with no damage done but no indication we are going to get the push up and thru the 195 yet either.The downside […]
OTC: February 18, 2016 S&P 500/ SPY: The rally stalled today but it was barely a blip on the chart as the magnitude of the previous 3 day advance makes a normal day’s movement look very small. Oil had a small set back but more interesting today was the bounce back in the “risk off” […]