My book of ice cubes is sitting on a salty sidewalk on a sunny day. Despite the hard bounce on the indices and despite my stocks only being down a few percentage points from entry, my call options are taking a fucking hammer to the dome.
The only logical presumption is that the numbers being relayed to me by the brokerage are fake—some kind of attempt to shake my bones up. BUT KNOW THIS, I have endured worse and kept my cool for the sake of objectivity.
There are some odd cross currents. The inventory build in oil was enormous which is quiet bearish, yet our first level of support held. The forsaken ones, BABA and GPRO are rallying.
You may think your homie Raul is putting a hurt on the Nasdaq this morning, what with the way its whipping around. I will have you know, I am not, I am merely watching. There were some early signs that I should back off right at the open and I obliged. I have much work to do before I can trade days like this with conviction.
This is day two of a weak morning, and day two of a strong rebound. We are coming into a seasonally strong period to close the week and the Beige Book is coming up today while the monthly NFP is on the horizon. I am quite long, and in sandwich mode until more information is made available.
Top picks: DE and GPRO **dodges incoming tomatoes**
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