The rally last friday in the last hour retraced 200 points on the dow.
Was that the rally I was expecting for Monday??
Im seeing that as a distinct possibility
Therefore, I am going to short ANY upside open within the first 30 minutes to one hour.- this is assuming it opens higher.
If it opens lower, they always rebound somewhat, and that point would be my signal to buy puts.
Im using the Q's as they are easy to trade and easy to follow.
Jaywiz Index = .33, not hugely bearish, but certainly NOT bullish as it is nowhere near the .50level required to consider a bullish day.
OEX pc ratio also a little bearish @ .90, but add that to a 5 or 10 day aver onto yesterday's .54 level.
CBOE pc ratio @ 1.15 would usually be bullish, but we are in a downtrend until the 28th, IMO, and those levels are not very bullish just yet.