While the china numbers were surely good, the euphoria in the trading floor simmered down as there are still many bears in the market.
The DOW jumped almost 100 points, failing to close above its resistance level 10550.
I am still wary of the Option Expiration day, as the option pain numbers are just too low. Hedgefunds who want to protect their calls and puts premiums will be manipulating this market.
Continue to remain bearish for the short term. Remained short on LVS. Whoever that is commenting can do the opposite. Read my opinion at your own risk. Appreciate any helpful comments.
Short FCX again at this resistance level.
Happy Trading.
2 comments:
What do you think of SOXS?
sold my LVS this morning. time to short this stock.
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