Opening Buzz

Posted under American Options Trading, Rob Roy - Chief Trader by Rob Roy on Monday 1 February 2010 at 7:49 am

The market followed the futures and opened to the upside.  In the first few minutes, the first selling attempt has already occurred.  On the positive side, the market is oversold and due for at least a bounce to hold a couple of days.  In addition, we have the start of a new month where normally mutual funds and institutions will put new money to work.  As mentioned in last night's podcast, the dollar bears watching as it is a bit overbought and weaker this morning.  That could well play into the bounce theory.  The day's action will be very interesting to watc

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