Friday, February 21, 2014
Today is Friday, OPex on the month and we had a run up towards 184.89 to 183.89 at the close. There were lots of Open Interest on the 184. The Market Makers did not want to lose money. Therefore we had a close under 184 so that they can make their money. Usually when this happens, next we should see a momentum and a new trend to take place. Economy is bad because of the weather and the Market knows that, so far, we havent seen any drastic downwards with our Economy and we are blaming China for a pullback. George Soros had taken a PUT position in the 4th quarter and that made some noise. However, we continue to see a push towards 185 and all it takes is the Bulls to push it above 185 and we should see a continuation. We will trade the trends and find the best entry and exits.
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