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Max pain is $135 on the SPY! Or Pinning as some would say!

posted 04/17/08 06:34 PM | Viewed 203 times
I am leaning towards the bull side and say we close at 136 tomorrow. Even with those two nasty banks reporting. Monday we dip a little then another run up (Margin calls). Whats everyone else think? Should be an interesting week next week. Lot of open calls in May, June a lot of open puts.

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locogmac

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locogmac
Posted April 18, 2008 (01:02AM)
Heavily bullish now? I think we go up as well. Whoever held GOOG calls made out well tonight. GOOG should propel general indices.
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WallStreetKing

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WallStreetKing
Posted April 18, 2008 (01:59AM)

A person I speak with claims Doom and Gloom in a humerous way. To a point I have to agree with all the major points being listed. Then we started speaking about the 52week high for DJI. I know the VIX but that isn't the overall sentiment. I still believe we need to look at the markets, for comparison sake.

Index Value:12,620.49
Trade Time:Apr 17
Change:Up 1.22 (0.01%)
Prev Close:12,619.27
Open:12,617.40
Day's Range:12563.25 - 12656.56
52wk Range:11,508.70 - 14,280.00

Nasdaq

Index Value:2,341.83
Trade Time:Apr 17
Change:Down 8.28 (0.35%)
Prev Close:2,350.11
Open:2,347.32
Day's Range:2327.66 - 2348.31
52wk Range:2,155.42 - 2,861.51

S&P 500 indes RTH

Index Value:1,365.56
Trade Time:Apr 17
Change:0.00 (0.00%)
Prev Close:1,365.56
Open:1,363.37
Day's Range:1357.25 - 1368.60
52wk Range:1,256.98 - 1,576.09

The big thing and will be a concerning factor is retirement age folks from now to 2 years. I know your looking for just short term tommorrow or in the coming week. So are Fund Managers. We can get whip lash real quick just on one day. Plus other countries institutional investing in the US. which canadians look like they pulled out of my microcap stock.

Now looking at SPY, technically it is set to go up. hopefully for you, past 135. better volume in the last few hours of trading, I didn't look at the option chain. no time. but since the markets have been somewhat low. might get lucky and jump up to 137.

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WallStreetKing

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Posted April 18, 2008 (02:17AM)

Wait a second, i did a qoute and got 135, that was NAV geez i am an amature.. looked at option chain and they show 137.xx went back to chart and showed closed at 137.05 so with all that, maybe you will get a little better in the money. My charts do not work well in the advance charts. I think you will be alright and be in a little better shape by the close. hopefully.

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