Market is up and Vol is dropping a little bit. The Portfolio was holding it’s own last week as I was adding in positions that were selling into volatility.
I love the talk of Oct ’87, what will monday bring? Especially after last weekend’s All-time high talk. People are so funny. Emotions in market.
Futures are off in the pre-open. More slide this morning is fine with me. Ideally, I would like a down tape early and then a mid-day short covering rally. I would love to see Volatility drop for a day or two, and it should let me out of my calendar positions.
Well, someone thought they should sell.
I played a few quick sell trades this morning. They were very short term plays. Curbs for program trading at 9:16am. Interesting.
Well I guess we were viewed as oversold? Strong buyback this morning, with a mid-morning crush
Another crushing day for the bulls. Hard core slaughter. Indexes started down on the morning and continued. I am out of a number of trades.
I like the uncertainties in the market. I don’t think the bulls are ready to give up, and I think the bears have reasons to growl. I look forward to the upcoming chop and volatility.
The markets have pulled hard off their highs. What’s new? Not alot. Ewwww, GOOG announced there earnings were .03 off of expectations, CAT didn’t make it. So the SP closed down 19, the DOW off 157.
Breckenridge has been outstanding of late. There are tons of activities in Breckenridge and Summit County. Brilliant sunshine mornings, a little afternoon rain, with temps in the 70’s.