Wednesday, January 14, 2009
Option expiry week
Options are expiring this week and we could see some more whipsaw action like yesterday, which forced me to stay rather passive. No telling where we will go from here in the very near term, however mid-term i`m bearish as I said here many times before. Overseas markets are heading lower with bad news hitting the market from the financials front again and Futures are down a bit. I find the whole AG group intresting on the short side, annd have eg. BG through 47 on my list. Other than these, watch the financials as always. On the long side TSO is developing nicely, however if a signifcant long breakout will occur in that market environment remains with some doubt. However, keep on radar just in case we get some more bullish short time environment. A break of 15 on high volume with a market not tanking would probably get me in.
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