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Daily Option Trading Commentary

Bearish Sentiment Is High - Buy A Market Bounce Off Of This Level

November 20
Posted 9:30 AM ET - Typically the market would be grinding higher this time of year. Strong earnings and consumer spending would fuel a gradual rally into Thanksgiving. Asset Managers would maintain a firm bid so that stocks finish on their high of the year. Investors are happy because their portfolios are doing well and Wall Street bonus checks are fat. This is a very predictable force and its absence is concerning. The tone has soured in the last two months and we could test the October low today. There wasn't any incremental overnight news to justify a 40 point…

 

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