If we close above 1313 on the sp500 Today then BOT Short Signal Cancelled

The market is bouncing around like a basketball and I should have realized this right before options expiration.  They do not want to move this market in a big way in either direction until after the trading day is finished tomorrow.

Bottom line is that if we hold and close above 1313 on  sp500 then I have to once again cancel the recent BOT Short signal and then stay with the long signal. 

It is as simple as that.  13 may be an unlucky number but if we hold it then I have to presume positive going into next week.  If we break it then perhaps the down move can get some more traction..

Posted in SP500
3 comments on “If we close above 1313 on the sp500 Today then BOT Short Signal Cancelled
  1. Geoff says:

    blog position is irrelevant to making a “best trade”. each reader should do their own thinking.

  2. JR says:

    First my complements on the Ulysses quote. I love it an use it often.
    Second, I would like an opinion from our group on a stock where I have a massive position.
    Those who read the comments here, know the stock of which I speak is Vical (VICL).
    The stock has traded for the last month or so around $4.20- Yesterday it was up some .12 and today down .18. But here is the interesting part, after hours today it announced a fabulously deal which put 135 million into their coffers. After market the stock shot up 10% some .40. This is a giant move for a $4 stock.
    Here is my question, what manipulation was going on in the stock today? The fall makes no sense, except it must reflect some fore knowledge in the option market. That is what I think. And it looks like an SEC violation.
    I would like some opinions on this.

  3. Larry says:

    Sounds to me like someone knew of the deal coming to fruition and wanted a lower price. However looking at the chart the same occured back at the end of june. It could be the stock was just topping out and was coincidence.

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