Nice close. People must be pretty upbeat about the weekend.
Stock Market Today : June 4th - 8th - Page 42
Right now, liking commodity complex pretty much across the board, and for some reason FB has me thinking it will have a very nice week. Almost picked up some Jun 26C today, had my bid in and out during the last 40 minutes. Discrection is only reason I didn't go for it. I like how Buyhigh and Rock have been touting FB today/yesterday, it certainly brought a possible good trade to my attention. They should be getting some good press next week (check FB thread).
Possibly a continue grind upwards? Some resistance towards the upper 1330s. A nice little bullish run to 1360 would do wonders for my IBM calls.
Speaking of AAPL:
SOLD -15 AAPL 100 (Weeklys) JUN2 12 570 CALL @3.21 BATSMARK=572.85 IMPL VOL=24.09% ,
Played it on a lotto account, trail stop kicked in on a quick flush. Left so much on the table .
I kinda agree with this... I am holding some fundamental longs for the longterm, but have a hedge with uvxy. The world market is not healthy, no matter what the people behind the curtain say, or how dazzling the smoke and mirror tactics become.
Bought some UVXY just now, looking like a double top on the SPY.
With Greece elections on 17th with an expected win for antibailout camp, next week can see some real red after this double top.
Of course, Spain bailout over the weekend is the wild card that may be able to push SPY to 134 on Monday but I think the week will end in red.
Nice action today.. i feel mostly shorts covering going into major data..
CPI and PPI are due this weekend from china which will be negative perhaps due to the rate cut which no one was expecting. Bearish
Then we have the YEN intervention which is bullish for the market..
And then euro decisions... Unknown reaction to market.. Spain is to close a 80B euro hole... somehow..
I do think we would of tested 1292 but instead we want to touch that resistance point again(1320) and need a clean break beyond 1335 to see 1355 and 1370.
1323 close. Not bad. How about 1340 Mon Ichi?
Bob is a great student. He teaches me though.