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Monday, January 7, 2019

Short Covering Bounce Will Continue - News Is Balanced


One Option Trading Blog http://bit.ly/2RiW69a Posted 9:30 AM ET - Last week we saw some signs that buyers are starting to nibble. The market drops were "jerky" and it was harder to make money on the short side. We did not hit any deep air pockets with late day plunges. On Friday we saw a massive short covering bounce. The news has been mixed and we are in the process of forming a base. Massive drops like this take time to resolve. I'm not expecting an instant rebound and a new high anytime soon. Asset Managers are not worried about missing the next big rally. On …

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