SPY closed basically unchanged yesterday, and this morning indicates another open near unchanged after another quiet overnight session as everyone waits for the all-important central bank releases on Wednesday and Thursday. It is also month-end, …
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Markets were quite resilient yesterday following the Bernanke commentary. It reminded me of the initial reaction to the FOMC announcement on June 20th. Prior to that meeting, there were some who expected a QE3 announcement. …
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WSJ The stakes are increasing for this week’s EU Summit, the latest in a series of meetings European leaders having been holding to solve the crisis. Even Italy’s prime minister, Mario Monti, has joined a …
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Negative start to the week, with SPX futures down more than 1%, Europe down 2%, Eur/Usd back below 1.25, and oil back below $80. Like I mentioned on Friday in QuickHits, I think 1300-1315 could …
Continue readingTrade Update June 21st, 2012 11:23am: Since the rate Fed’s rate announcement and economic outlook yesterday afternoon, the markets have been underwhelming to say the least. On Tuesday I bought some June weekly SPY Puts …
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While most market participants had been focused on Greek elections and Spanish Debt Yields, I am a bit more intrigued by the almost 4% rally into what is likely to be the main event for the month, tomorrow’s …
Continue readingAs all eyes turn to the Federal Reserve for tomorrow’s announcement, I compiled a chart of all of the previous FOMC releases since the March 2009 low in the SPX, with the release dates circled …
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The Euro since 1975 was one of my first contributions to RiskReversal back in early May. It’s been a multi-year thesis of mine that we will see capital outflows from Europe. As an alternative to …
Continue readingAAPL is of course exceptional. It’s the largest stock in the world. But the exception I’m referring to is in its volatility pricing. Amazingly, its implied volatility has become unhinged from the rest of the …
Continue readingI generally try to avoid joining the media frenzy around a particular market topic because the media tends to distract me from the “real” story in many cases. Today I am making an exception. The …
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