Friday, September 5, 2008
Toping for a possible rotation
Nice little weak pullback. Opportunity for a short. Keep in mind. The bigs delta is 20K positive and we have come to a delta neutral overall. There is both covering and and moderate bargain hunting. We are very close to mean and might consolidate through this area. After lunch might bring some decisive direction. Place for a very tight stop personally. If the orderflow continues to be on the buy side, additional covering will bring us inside yesterdays range. Its important to rotate and break through the 30 level. Notice that the G period extended IB and the weakness needs to build for a reversion trade.