GS said oil would go down, and down it went! Amen…and so be it.
Yesterday I complained about maybe selling USO puts too early, but UAL calls made up for it today…kaching. On the other hand, TBT calls weren’t so hot today. I’m still heavy into the bank/financials sector with many of them reporting over the next 2 weeks…JPM tomorrow and BAC on Friday. The rest of the boys will check in next week, looking closely at C GS MS WFC. But rather than buying each of them, I’ve got XLF and FAS, although I do have C and MS.
Volume sure moved up on today’s down move. Only the downs days have high volume. This was also the first time the markets were down 4 days in a row since last year! The Dow and S&P found some support while the RUT looks the ugliest in its leadership down. Wonder if oil has found support and if silver will ever go down.
Have a great evening!
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....
