TVO Market Barometer 10/14/15

TVO MB 10-14-15b

If you’re one of those folks who have been waiting since the beginning of October to BTD on this rally, the opportunity may have just passed on by. And the anxious bears who are loading up for the elevator down (you’re supposed to sell the rips, not the dips BTW) may want to proceed with caution. Tuesday’s Heat Gauge reached a scorching +69 on a +16% increase in overall volume, so the sellers have run out of breath. Today at +5, only marginal selling continued, and a surge in up-volume has already opened the gates for more buyers. The HG was just a hair shy of a long signal, but TVO has already been long (like it or not) since the start of September. Watch for this to run up until options expiration this Friday… then the bears may get their turn, but don’t blink or you might miss it. -MD

For more on market volume, The TVO System, The Heat Gauge (HG), or how to trade options follow me on Twitter (@TradingLicks) and StockTwits!