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.
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.
A new discount plan from GMAC Insurance gives a discount on premiums to drivers of General Motors vehicles with the OnStar service if they let the insurer track the number of miles they drive.
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.
Now were talking. Independence Day parades, golf in the mornings and the evenings, hikes, and a little rain in the mid-afternoon. While Denver was in the 90's, day time temps in Breckenridge ranged from 65-78*. Delightful.
British are coming, the British are coming... With an increase in rates that is. And with the language they used in raising their interest rates, look for at least one more rise this year.
The market gapped at the opening, and then continued up for a bit. Some of the leaders have faded in the mid morning. And as expected the volume is extremely low.
The market came back from the weekend up. Mutual Funds are putting their new monies to work, and cash is freed up from the big institutions after expiration friday.
