Chicago!

I've been at the Investools Chicago conference this week. It certainly blew away my very low expectations. Could be that I would even recommend any Investools student go ahead and attend these when they happen. That is something I never thought I'd say. I had little access or time for internet connecting so not much market watching going on therefore no time to move the blog forward.... but the conference did remind me that the purpose of this blog is to expand and work through the options trading so with any luck I will not forget that when I get home tonight.

Well, it is getting toward mid-day and the $SPX is pushing its 200 day MA and getting nearer to the downtrending line off the peak. $INDU is pushing the resistance at the June lows and $RUT is at the "neckline" of the double bottom and close to the 200 day but still a little room there. You know that I expect some sort of test of the lows again so now is the time to reevaluate some short term long plays and look for the short plays.

I'll post some charts by tomorrow morning but will say if the move down for the test develops, watch the $VIX. If a low is found in the market with a lower high in the $VIX this would show the healing process in full swing and turn me at least neutral intermedaite term with more acceptance of long plays off that low.