Options expiration Friday. I might be trading , I am not sure. I would like to see a strong trending opening before deciding if I am going to jump in. While there seems to be a strong interest in Futures trading in blogsphere, I am ,in fact, start looking at options trading. 😉 I am looking at short term options trading on stocks. Of course, my focus is still in Futures. I am trying to study some basis now. John from theessentialoftrading.com did a nice video on stock options trading. check it out.
Tradestation releases build 8.2. I am still downloading.
OK, back to market. I am looking at daily chart of Nasdaq. We have some pull backs in Nasdaq as expected. Now I am interested in watching if moving average is supporting it. I am staying neutral. Premarket is showing flat. We had 3 down days consecutively.Today might be a choppy or flat day. Maybe it will form a nice dummy spots in daily chart? 60 minutes shows me negative pictures and sellers are still dominating.
I might instead spend time reading options stuffs and play around with Tradestation.
I was talking to a colleague from China (He is not a trader though), he mentioned to me , in China, colors of price bars are opposite to what we are reading here. Meaning, RED for a up bar, BLUE/BLACK for a down bar. You know, Asian, especially chinese, Red represents lucky, prosperity and …every that is good. Uhm…So, I guess I gonna change all my candlesticks color in the Chinese way. LOL.