1. CCL – stock down again today, but ended up only down $.11 despite the company reporting that the Triumph disaster will affect it’s earnings as they will have to cancel at least 12 future …
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On a day that saw the lowest SPY volume since 12/24/2012, index ETFs traded a good bit of protection. AAPL – Call to put ratio near 2 today, as the weekly 500 calls traded around 40k …
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Two big prints that were both protective in nature. VIX – buyer of the Apr 20/25 call spread 150,000 times paying 0.70 to open. Quite a big bet, as that involved paying out $10.5 million …
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Morning Word 11/09/12: Dan’s out this morning helping his wife deliver much-needed supplies to areas in Staten Island hard-hit by hurricane Sandy. I’m the cold-hearted trader at RiskReversal, so I’m subbing on the MorningWord today. …
Continue readingI posted the Nasdaq 100 vs. SPX index on Oct. 19th, going back 3 years, and posited that it was evidence that the market had put in a major top. Here is another chart that …
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Most surprising to me about yesterday’s price action in the broader markets is that it happened gradually over the course of the entire morning. The SPX futures market was indicating a market set to open …
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Dan and I had a discussion yesterday about the proper way to gauge this market. The cause for our discussion was the increasing divergence between the Russell 2000 index and the S&P 500 index. In …
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I have to admit that I’ve been surprised by the resilience of the major indices following the policy announcements of the past 2 days. The markets are bouncing this morning ahead of the payrolls number …
Continue readingWhile index prices have marched significantly higher, this is not the type of market where a rising tide lifts all boats. Many boats are being left behind, evidenced by new highs vs. new lows (a …
Continue readingYesterday’s intraday reversal higher was a very high probability event, far before any news headlines about Europe hit the tape. It was the rare event where almost all of my intraday signals line up to …
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