Watching Paint Dry

It's hard to get in to positions without some movement, usually whenever there's a dull market that's because something is going on and those are the markets you really have to pay attention to because they'll surprise you in a minute after 5 hours of nothing.

These weekly option expiration Fridays have been acting more and more like monthly op-ex pins. Look at today's TICK...

We are now in something around a 500 +/- range!

I've noticed as more and more contracts are closed as the day proceeds, we tend to get some stronger signals later in the day, usually after 2 p.m., even if price still stays flat in a pin.

I'm going to do a whirlwind through the leading indicators, all of the industry groups and some key stocks as well as the Cat and dog stocks and see if there's ANYTHING that might be going on under the surface that I'm not seeing.

As for yesterday's weekly QQQ/IWM calls, for now I'll still stick with them (they expire next Friday) and this is EXACTLY why I didn't go with today's expiration-in any case, the longer intraday charts as seen last night still suggest that those calls will see upside action, I want to make sure those signals stay strong enough to hold the calls over the weekend of course.

I'll be back in 20-30 minutes as I check out all of these areas.