General Options Blog

Morning Thoughts

What a wild session yesterday.  Anyone who traded those dips and spikes to perfection needs to have their balls checked for proper inflation (BTW the Patriots did win last night with balls inflated to government regulations).

I was just asked in the chat room if I have turned bearish on this market.  I've been very bullish on this market for many years.   I wish it started on March 9th 2009, but it didn't.  I took my time coming over to the bullish camp.  I didn't belive the green shoots either.  But here we are, and yes, I think for the short to medium term (or until we get that flush to the recent market crash lows) I am a bear.  I think prices are heading lower.  Judging from the action this week, the downside move is not going to be easy to time.

The support is strong with this one.... young option trader:   but if support breaks today... look out below -

Of course the bears still have more headwinds for downside than the market had for upside the last 6+ years... if that makes any sense.

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