As much as I wanted to add to put exposure on CBA yesterday I restrained myself.
I'm not afraid to tell you market is doing things that are outside of my level of expertise so I'm trying my best to sit on hands.
More mixed signals overnight didn't help make the picture any clearer.
However, one plus was the big banks in the US didn't really get much love but no moves to write home about.
One thing to keep in mind is the move on earnings day - which will most likely be outsized and potentially in both directions.
JPM most recent earnings release boosted the sp to ATH then price dropped around 12% from those highs in the next session!
CBA may or may not follow suit but worth noting.
Any oversized moved will most likely happen in the first half hour - before dealers start quoting options market.
It's best time for them to hit stops and/or burn traders in either direction without being exposed to anyone getting set with heavy options positions.
CBA earnings and the 'window of weakness' both line up on same day - which happens to be Valentine's Day.
Hopefully bears can finally get some love that day![]()
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