Stochastics Oversold

[tarulestheday]

I don't think I have ever seen IOC work off an overbought condition that quickly.  Thanks shorts!

We clearly saw support yesterday in the $75 range. Now it's time to build support in the $80-83 range.

http://stockcharts.com/h-sc/ui?s=IOC&p=D&b=5&g=0&id=p17312414077

Interesting that amid all of the chaos yesterday, the options market maker still held up the OTM September call premiums. I know because I tried to buy some of the $100 calls for lotto tickets. A very wise old options trader once told me that the options market maker ALWAYS has more information than you do.  The September options premiums are still signalling a big move up, and soon. I mean noos!

[admin]

Interesting, tarules.

[Getitrt2]

Anyone know how much shorting was done yesterday or the previous two days?

[tarulestheday]

Anyone know how much shorting was done yesterday or the previous two days?

2012-08-15    36% short sales
2012-08-14    37% short sales
2012-08-13    45% short sales

Reported volume is only about 50% of total volume but is still a fairly representative sample.