We've been talking about that underlying strength in this market for the last week or so! Here's IWM...King you ready to come out from underneath that bed yet.
Hi RedDuke, No, I didn't catch it. It was the last day of the month and Crude had broken down below the monthly A down which is not that meaningful late in the month but also certainly not a good reason to buy it. I'll be watching the new levels in July carefully. End of QTR is usually a really tricky time to trade.
Marc Sperling has a few short videos that he puts out on the t3live website about 3 times a week. Just a quick video to watch before the market open, very useful to see how someone as experienced and skilled as Sperling is navigating the market. This is the best way to shorten the learning curve, talk to experienced traders and just absorb and learn...then take what you've learned and do what is comfortable for you. Focus on what you do best! http://www.youtube.com/watch?v=QkfyVCGX5VA&feature=BFa&list=UUBj1BiYgmUJWdzqLhfInpJg
Big move in bonds today guys...strong action there! This trade is very crowded and could get very messy to the downside so I would tread carefully there
Guys, These number lines are getting crazy. I mean I'm seeing double digit numbers in the 30 day lines and high single digits in the 5 day too. Some that really stick out are the SPY, the XLF, and the VNQ. Decent action today despite taking out the a down in most sectors. Mostly zeros in my number lines. We managed to buy the lows of the day.
One last thing. Last fall I was talking up BMY big time as the XLV names seemed to do well before the market found it's footing in October. Many of these same names have been leading while the market paused this May/June, (Shan's been all over this). I didn't think much of it at first given that the previous relationship between the market and XLV names was; S&P down, XLV and XLU up. There have been some serious moves though in these names leading up to and now AFTER the recent Supreme Court ruling. Anyway, long story short, I know BMY made that acquisition today, but as an options trader I always have an eye on option volume. Today there were over 100k trades in the 35 strike alone! 14 million all told. PFE with good volume today, and MRK kept popping up on my screens last week. GUYS, this is major volume in these names. Keep these health care names on your radar, they may not be done yet, (even if the broad market really gets going).