Market Update

It looks like some last minute lifting of the offers as the volume is absolutely minuscule, a very small investment to make to keep the market closing green today and on the week, should help morale with shopping over the weekend, at least more than some bad market news.

I had some questions about the options trades and whether that was a reflection of a change in my opinion, no it is not a change in my opinion, it's just trying to take advantage of what the market is offering very short term and to hedge leveraged long positions such as FAS that I want to keep in place so with a couple of options, AAPL puts (after just having made a decent gain on AAPL long shares) and a more leveraged Call (long) FAZ (which makes money if Financials go down), those two should be about close enough to hedge leveraged longs which I may very well consider adding to once a pullback takes place and shows strong accumulation in to it as it nears its end.

I'll post some charts of FAS (long Financials) and FAZ (Short Financials) next, here's the market update on this last minute stick save...

 The divergence in S&P Futurs is still very much negative intraday, the volume is very low right now so it doesn't take much to move the market.

SPY volume over the last several days vs right now, it is VERY low as you'd expect so it doesn't take much to move the market.

As for the TICK (1 min) today, it looked pretty good this morning at +1000 (even though earlier in the week we saw +1500 to +1800 readings -much better), then the TICK fell while the SPY was at the same price area and the TICK went negative, more stocks falling than climbing, the stick save in yellow is all over the place as their picking up offers and sending the market higher.

I'll show you financials next