The top callers are still convinced we are about to sell off hard here, but I must tell you a few important things right here. The market has been sideways / or lagging a bit, I will give the bears that, however the market remains very quiet in the JEWISH holidays.
When you discount all the large computer program trading that has been occurring since Monday, the volume on the market has dried right up.
I think the hedge funds are concentrating the SEPT and quarterly expiriations this week. By the end of this week, they will be getting their portfolios ready for Q4. The 4th quarter I might add is the best time to trade. I love the Q4 time on the market, lots of volatility normally and a good time to be a trader.
While I do think the bears have had the upper hand these last few days on the market, it has not convinced me that they have the gonads to keep the market suppressed going into Friday and the September expirations.
The seasonality we have been giving our VIP ELITE GROUP has been working a treat these last few days. Awesome stuff.
Happy trading :-)
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