Who Is Buying This Shit?

October 28, 2022
Author: Peter Stolcers, Founder of OneOption

By all accounts the market should be getting trashed today after horrible tech earnings.

PRE-OPEN MARKET COMMENTS FRIDAY – Who is buying this $hit? The market fell back below horizontal resistance and the downward sloping trend line at SPY $380 before the close Thursday and then the bottom fell out of the QQQ after AMZN reported. Guidance has been terrible this week. If ever there was a reason for the market to drop, this was the time. In 30 years I have learned to respect the power of year-end strength. We are in the two most bullish weeks of the year and today we will also have end of month fund buying supporting the market.

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