So is it the beginning (or bearish) or end (of bulls)…may be yes, may be not. We talked about unusual volumes in March VIX here (Market at crossroads) and then we talked about market moving indicators yesterday here. Yesterday, Market opened sharply higher to soon trade below waters and then again to recover by the close time. So the Chinese New Year is over, and so is the rally? well, there was a huge sell-off (SSE component down by more than 9%, that’s hugeeeee) in the Chinese markets today. That may have triggered wider decline in Asia and Europe.
I am not good at determining the direction and respect Mr. market for his mood. I will just follow what it has to offer and adjust if it challenges my positions. The futures are sharply lower that may threaten some of my put side positions so I may be busy implementing adjustment plans should the futures move further down after the consumer durable data is out in roughly 15mins.
Wish you all profitable trading, let Mr. Market start the tango, OptionPundit