The Russell was down but the Nasdaq was up. The Dow was up but the NYSE was down….and the S&P was just a little below breakeven for the day. Not sure what kept this market up today, but it sure as hell wasn’t anything logical.
Tomorrow is OpEx so trading may be a little crazy. I try not to do much trading because things can move quickly in either direction. My inclination though is to continue adding positions in anticipation of a correction next week. I’ve been nibbling on TZA, both the stock and its calls, and VIX calls. TZA is green and VIX is red. I’ll wait until Monday to decide on some stops.
There’s a couple stocks I looked at that show some incinations to move up: ZANE SHIP QYM HLIT. I’ll put thise on my action list for Friday, but it will take a lot to make me play.
Here’s some interesting reading:
As Keynes famously once said “The market can stay irrational longer than you can stay solvent”. Be careful out there.
Sometimes, entranced by the screens, watching equities, options and futures change colors, charts moving in a wave, and indicators pointing in every direction, I just have to scream....
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