Gav’s Morning Coffee 18-Jan-2007
Options! expiration Thursday. Options! I don’t know Options!
I am looking at Nasdaq daily chart, It looks like we are heading to 20 SMA. Coincidentally, Downtown trader is kinda sharing the same view. From 60-minute chart of NQ, trend started turning down and sellers kicked in. So far, I am interested in looking for short opportunity today. But who knows? There might be some surprise.
I will be trading today. But, I will try to be very cautious, since it is Options! expiration Thursday, I don’t know what’s gonna happen today.
Another note, my site has been down every day around 4am (NY time) since last week. And the technical supports just can’t fix the technical problem. Oh well, Time to look for a better trade, since I can get back refund of my remaining subscription. So if this site is down again, you know why. Now, on the quest of better hosting firm.
From the desk of Tradergav.com
My netvibes page
This post has 3 comments
January 19th, 2007
Frankly, I think options are given way too much credit for influencing markets. This is from experience. I used to be a forex options analyst. I would be very rich if I had a buck for each time a supposedly important options trading level turned out to be completely meaningless to the price action. Most people don’t understand them, so it’s kind of like magic.
January 19th, 2007
John. Thanks for your comment. I always appreciate it.
In fact, I am still confused if there is really significant implication on options expirations day. Good for daydtrading? or I should just stay away? I am trying to do some data analysis to get a better view.
January 19th, 2007
I’ve heard the same thing about options from a master Options trader…they don’t have as much influence as many say they have…