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.
Is interest rates about to start going up?
-
Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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