Mr Market has begun the week with opening gains, but those have already largely failed. Bears should be battling for VIX in the 15s..with sp'1850/45. If equity bulls can hold the line there though, there remains high probability of renewed upside. Metals remain somewhat weak.
*I have my eyes on RIG and SDRL, on the long side....but first, I want to let the indexes slip lower.
We have started the week with some pretty dynamic opening price action....at least its not boring, right?
10.00am... getting messy...indexes rebounding..and VIX cooling.
Will be a lot of confused traders after this open.
10.03am.. RIG, SDRL continue to retrace lower...I will look to pick them both up. They are already tempting targets though after last weeks big turn.
10.10am.. Anyone else noticed AAPL ? Its flying..for the low $600s.
10.20am.. LONG RIG from 42.60s
10.24am.. most annoying open for some weeks? Fails opening gains..reversal lower...then whipsaw higher..and VIX turns red.
I am now eyeing SDRL for another long block.
10.32am.. LONG SDRL from the 34.50s. - seeking 36/37
10.42am.. RIG and SDRL are starting to fly already.
Anyway..main market is holding together, and with QE tomorrow...bears face same old issues.