Friday, February 12, 2010

Potential XLF squeeze

Im encouraged by the buying happening after the steep morning drop and then general churn happening over last week without the bottom falling out.
I think there is a good chance of a pop next week
its also OPEX

as of 330pm
but we are printing a hollow reversal candle
selling volume not super heavy on the ETF's
VIX and SPY are also both down

green vertical lines indicate other reversal candles on low vol.

Feb 27 - $shak primed for a big move

Still holding $RIG Mar2 and Mar16 calls which are up 100-200%.  $shak settling nicely and I have plenty of time with Jun 45 calls