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.

Mar 17 - Long $QQQ

Got into decent size position of $QQQ 175 calls @ .22 expiring Fri and smaller $amzn and $nflx.  Still in $shak and sold off $rig for only 5...