2 Right off the bat this A.M., as the market was hitting its lows, OptionsHawk tweets “SPY Mar. 156 calls in high demand here on day lows”. Not even 4 hours later, they were +100% as the market shot back up. Whoever is the buyer of this type of trade lately has been on the money, and these tweets are money.
Another fantastic trader I like to follow, Legacy_Trades, has started initiating some housing shorts, via home builders PHM, MDC & SPF with only partial fills today. This is notable to me because this is the first time he has shorted home builders since nailing them in 2011.
Vcutrader still loves AAPL & DTV, and that’s about it. He’s been in heavy cash for a bit now, awaiting better pricing on a list of names.
Market Anthropology with another fantastic follow up post regarding his stance on the forth coming pain trade (sic) in commodities and commodity currencies. A River Ran Through It.
As an extension to the commodity pain train, and into one of my own trades, silver via SLV, got denied today at the 20dma and I believe this bear flag breaks to the downside soon.
As I write, silver futs are down only a tad, after dipping below $28.60.
David Schawel brings to light the possibility of investing in taxi medallions via ticker TAXI, Taxi Medallion Corp. Averages 6% per year since IPO in 1996. Interesting.
ukarlewitz with some beneficial tweets…
“BKX Bullish % Index points to price weakness” BKX Bullish %. <My take is though the financials have lead the majority of this rally, a pause or retreat in the BKX is likely however it is not sufficient for the entire market to turn down>
“Today is the fifth consecutive close at/above 80% Bulls for S&P sentiment. We didn’t have a single reading in the 80s throughout 2012.”
“SPX has had at least one 5% correction by May every year since 1996. There were none in 1995 but it followed the crappy 1994” SPX corrections. <That’s a crazy statistic that I would have never thought.>
My take on the market is that if you have gains to protect, you should be initiating protections. Now is the time to become cautious over the medium term time frame.
In other news…
News of A new pope. Which was followed by some pretty funny tweets from the usual suspects like ReformedBroker. My favorite, actually was not from him, but read “Maybe the new pope will take a radical stance against pedophillic rape”
2 Responses to “Evening Links”
UncleBuccs
Good post. Thanks for these.
redman59
Enjoy your posts. Follow the same traders for the same reason so its nice to see these recaps…well done chivo