Wednesday, July 3, 2013

XLF Put to be Closed... Parabolic Moves End...

Badly.

This doesn't have anything to do with Friday in my view, it is the head fake we saw late yesterday just continuing, as I always say, "Wall Street doesn't do anything without a reason" and typically to change sentiment (which would be the reason for this move, you have to convince people.

That said, the XLF July $20 Put will be closed before the close today, hopefully the parabolic move will give some extra gains to XLF, but I don't want to wait too long.

Essentially I'd be pretty flat in to Friday, long / call positions that are there for the strong move up are still there, but I wouldn't add to those until I had more information Friday, from now until Friday it's a bet like Vegas, it's not an edge.

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