And There You Have It!

Last night I posted this "$127.25 Just About the Perfect Close For Tomorrow?"

So I was off by $.20 cents, but the effect was the same (see the linked post above)-The $127 puts which had the highest open interest were pinned and expired worthless as the SPY closed at $127.05.

The $128 calls, and today we hit a high of $127.94, also with the highest open interest, expired worthless.

How was that for a prediction?

As I've said many times, I only prefer options for short term trades and this is exactly the reason, most options will expire worthless.

Looking ahead to next week, we still have some very strong positive divergences and I've sen them in quite a few stocks. If the Greek debacle on Sunday doesn't explode, the market stands a chance of finally bouncing now that OPEX is behind us.

Did you see that end of day recovery in URRE featured today in the afternoon? It was down 6% and closed in the green!

You know me, my work is just beginning. I have a lot of internals and charts to look at plus some scans to run so check back for updates. Otherwise, everyone have a great weekend.