Some bears took heart on Monday, with the mid-day rally fizzling. Tuesday shows strength into the close and hits the bears over the head again. Normal bear market rally action would take us to SPY 80, about 20% off the lows and chart resistance.
I look at quite a few of the movers such as AAPL, FSLR, NUE. At the end of the day, I conclude that I am blundering around looking for a trade to make because I have mostly sat out what is now about a 14% rally off the lows. Wednesday before option expiration may bring more wide swings. I may look for some more cigar puff options into expiration, right now pickings are slim, or seem too risky for the premium being offered.
Long ROH, DNA, both expiring Friday 3/20
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