I wanted to post this 15 min chart to have something to work off for the rest of the week. Please feel free to comment. Negative comments are OK as long as constructive. Let's kick some a** :)
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weak opening SPY, short biased day likely, but can try to long from 226.50 if holds, or short after/if the gap is closed - just a general approach
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gap close very likely, small long might be good, good luck, tight stop
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OK. I'm exiting just around here and will be looking for some short entry. I'm using SPY options as the most liquid (best of best), not getting closer to the expiration day than 4 - 5 days. This one is 02/08/17. It works. Still can't figure out if some friends out there are friends or not :)
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I'm building a small short position around here and will be higher (as in above this level :) SPY options that expire this Friday show the preference for the 227.50 area = I expect low volatility for the rest of the week.
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Sugars and honeys don't get too close to the option expiration date. It's a deadly razor, lol.
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Creating a clinch consisting of calls and puts when one side is already green can be very profitable the next day, at the least it can lose a little bit of value. Tiny risk, nice reward potential. #clinchtolimittheirmovements
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So tomorrow's range will be just as tight likely unless aliens land on the White House lawn. It might be a good idea to stay out. Next week should bring some pretty good action - please see my SPY chart from today.
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The option whales will take care of this, no worries.
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I can show up with a knife if my snipers control the area :) The projections are shaping up and flowing with the Tao feels good.
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Since the channel upper boundary has been broken, I'm not seeking a short position atm, the momentum is too strong. Chasing this is not one of my desires either.
