10:40AM right now.
The first 30 minutes of action revealed heavy call buying, which when coupled with the drop in the DIA in that time window = is extremely bearish.
The next 30 minutes has shown heavy put selling, which when couple with the fact that we are still DOWN on the day, is even MORE BEARISH THAN EXTREMELY BEARISH.
The question I have here is exactly how to put this info to work:
This could take 3 hours to set-up or this could be a sell signal right here- I'm tempted to just put the sell signal right on, right here and take the risk that it is wrong because I don't want to miss the decline.
OVERALL - VIX is 47.5 now, which shows tremendous illiquidity is still present in the market = THEREFORE, I'm aware that this signal could be wrong or early.
It is what it is - we never know.
I definately don't like the signs that I see here.
SELL DIA 95.34 bid here now at 10:44AM EST.
RISK: 1.00 PT.
STOP LOWERS TO BREAKEVEN after 1 hour (11:44AM).
It is possible that we don't break until the close, then fall dramatically overnight - that is the likely scenario as I see it from here (intuition) to keep our "intra-day strategy" from capturing the profit.
95.45 bid now.
95.35 bid....
95.27 bid...
95.35 bid...
10:47AM
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the JY is telling me that this is not the time for this trade - the Yen has broken down = support for the DIA.
Let's move our stop down to breakeven NOW at 11:16AM after only 30 minutes.
I'm tempted to book the small profit now, but I might be wrong, so let's keep the trade going and stop out at breakeven.
11:17AM NOW
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