MONDAY - 10:44AM - Market Environment

Discussion of environment -

Put-selling dominated the first half hour of trading (putcall > 2, VIX down 5) and set up a bearish reaction as INSTITUTIONS are establishing long positions by way of selling puts.

This should be a constructive setup again for the close as institutional support is the most important element to a market advance. From what I can see, you have seen institutions front-running their own customers' orders by way of the behavior I have witnessed in the market. It is logical to assume this is happening too given how much money wealth has evaporated over the recent past.

Here's how I read this. I believe that we are in a constructive day where support holds and you exit on resistance levels. I imagine a stair-step advance for the day.

It is now 10:48AM and the DIA is well above its overnight low by 4.00 pts based on where Dow FUTURES were trading today.

STRATEGY: Buy Here 83.16 last. Target +1 pt. Stop = 82.50 (0.66 pts)
DIA is already 83.33 now. Same 1 pt target and same stop = 82.50 (0.83 pts)
Volatile action.
DIA is now 83.47. Same 1 pt target and same stop = 82.50 (0.97)
I can't even get this published in time for this to rally this much.....
10:52AM now...