Friday, December 4, 2009

Scenario

We are gapping up huge on the numbers. BAC is selling off hard.

I am gonna play this like so. Since i am net short i am gonna open down. Looking at the $TICK and the $TRIN.

$TRIN- if we have a reading of below .80 this means that we have an extreme amount of money heading into rising shares. This will lead me to think the opposite

$TICK- if we have a reading that is less than 400 or negative this would lead me to believe that a small number of shares are holding the market up.

Also i doubt that traders want to hold positions over the weekend. $112.50 is my first target for short spy $595 is my first target for goog puts. $200 is my first target for aapl puts. $22.00 is my first target for uup calls.

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