None of what you see today is real, per se. Sure there is a minor resurgence in commodity based stocks, but other than that we’re all just sitting around and waiting for $NVDA to drop the BOOM or DOOM. Odds are it’ll be a boom. My suspicion lies in the lack of insider trading taking place in the options market, suggestive that the report will be good or as expected. The report is due out on Wednesday.
Yesterday’s tape was pretty dreadful and it looked like we were getting another one pre market. As soon as stocks opened I peered at one of my tells, The SAAS sector, and it was barely down, which encouraged me to close out my $SQQQ and $UVIX. In regards to $UVIX, it should almost always be closed out before 10am if holding for an overnight hedge. The purpose of hedges is to avoid losses of the largess varietal and once closing them out to permit your stocks to increase in value. Timing is everything and although we are heading up now, that doesn’t mean we won’t crescendo lower this afternoon in one of this GIANT fuck you red candles from hell.
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