About pebblewriter

I left Wall Street in August 2001 (95th floor of World Trade 2...timing IS everything) and continue to trade for fun and profit. I hold undergrad degrees in Math and Econ, an MBA and am a CFA. Which is all to say -- I have no excuse for the miserable mistakes I often make. This blog serves as a means to keep myself honest and my thoughts organized. It should not be construed as advice regarding any particular strategy or security.

Another OPEX

Yesterday morning started out promising for bears.  But, the downdraft in CL that allowed a 13-pt decline in SPX was quickly erased.  From then on, SPX had a great deal of difficulty reaching even obvious levels of support.  Instead, we saw yet another insufferable meltup. CL took the opportunity to gap higher overnight.  So, what does … continue reading →