Without a market trend after multiple days of weakness, this may not be a buying opportunity. For weeks I have been warning that the last half of February is normally the weakest and that has come to pass. The news headlines are not focused on the market but on digging up dirt on politicians, Korean peace talks and obscure Fed rules on commodity margins. The market found nothing today to provide incentive for the bulls. Thursday is not likely to be better. This is month end and not even the normal month end buying was able to lift the market. I am recommending we pass on adding a new position today. We could be looking at a better buying opportunity in the days ahead.
New positions are only added on Wednesday and Saturday except in special circumstances.
NEW DIRECTIONAL CALL PLAYS
No New Bullish Plays
NEW DIRECTIONAL PUT PLAYS
No New Bearish Plays