TODAY: Wow, even more upside! This is getting to be hilarious. The market gapped up nicely today on some news from Euroland as well as the job report here. The EUR/USD was healthy green, and then crashed down as much as 1.1% around midday. The gap up went red quickly, but the dip buyers once again came in and bought the market back to its highs.
ANYTHING INTERESTING?: Several things:
Bullish things: IYT was once again very strong. XLF finished healthy green. The market jumped off the lows and dips were bought. Bonds were down a significant amount, TLT finished down 1%.
Bearish things: EUR/USD was again hammered. GS was hit hard, down 2.4% on the stress test results. SPY has been up 6 days in a row and up 3.4% in those days - at least a small pullback should happen soon. End of day selling was on heavy volume. Every Monday of 2013 but this week's Monday have been red.
I am very bearish right here.
AND TODAY'S TRADES?
Oh, yes, I did trade today - and it went well:
CLOSED TRADES:
GS +0.66% on a large position, INTC +0.5%, mid sized position - so these positions went from down a collective 5% or so, to plus 1%. I will take it, a very nice Friday.
OPEN TRADES:
NFLX, small from $184.55 short, TVIX long small from $4.18, BX short from $19.25 ave, VXX long from 21.97 ave, CJES short from 22.89, LNG short from 21.85, and SPXU long from 29.4. I am also in SPY puts going into Monday... heavily short.
I really like the NFLX, volatility long, and SPXU/spy puts here. The others are longer term plays.
WHAT TO EXPECT MONDAY?
Red, I expect a nice red Monday, at least down 0.5% at some point.
WHAT NOW?
Enjoy a whiskey, sit and relax, it was another great week.
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