This has that feel of the "buy em ugly bid" coming in...I don't know what thread it was on, but it was an astute observation about the 1867 level in spx...Fed wants the "market" to hold those levels and is counting on it being a simple re-test (or else we'll get some more jawboning), so even though we've got all these data points, along with an economy too weak to raise rates, the "market" has to churn sideways to higher or else Janet will really be in way over her head trying to manage market expectations and dance around the perpetual ZIRP...
true...there is some risk...of course! Im hoping by the end of next week its sitting comfortably above $20+ ITs at $16.61 and its positive in this -200+ dow market today which is quite surprising, maybe biotech will help the markets jump into the close!
LABU soaring must be news out regarding a heavy weighted biotech component I think the mega caps in the SPX could do the same..throw out bollocks news releases in the middle of move down
Yeah, they definitely don't have the same issues as DOW, SPX and NDX with regard to a few glam stocks skewing the prices higher...I'm holding out (trying to) for an eventual test of about 850 in RUT by sometime next year, but will close more puts and/or hedge at a test of the 2014 lows...104.00 level IWM or 1040 RUT.
yea its just going and going, I own LABU in 3 different trading accounts The last position I bought this morning in my other trading account at $15.45 Im going to sell once it gets to $17.50+