The other day I expressed concern over how many call options were being bought when compared to put options. We were at traditionally bearish levels when you compare this indicator’s past. When the market’srally like they did on a news specific even at a time when this indicator is at these levels,often times can be a last ditch attempt to sucker in as many people as possible. I initiated a few shorts near the close today when it was clear we weren’t going to rebound, but who knows how the markets going to react to the GDP number. My guess, rally at the open and a fade into the afternoon.


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