I'm seeing big buyers of
call upside around 1850 and 1860.
Upside vol is cheap, and unless Yellen destroys the
market can rally into long weekend.
Expecting a re-test of highs
on cash deployment and continued decent earnings off LOW BAR into
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Where have all the bears gone? Last Friday people were
talking about crashes and we said that sentiment was too bearish
(AAII Investor readings) which really meant we were set for a turn
higher…US macro is more than "spring loaded" from a combination of
1Q weather weakness and real demand.
Today's CAP UTIL at multi year highs to pre-crisis
, Ind production beat by a mile…and housing starts were very strong
in single family component.
Russell 2000 (small cap) has largely been a pain trade for short
players all year looking for cracks in the rally.
gave 7% back in a week but expect many shorted into the hole on
Friday when world seemed to be ending. The index had an
impressive bounce off the 200mda the last two days setting stage
for a rally I would not challenge until mid-next week when markets
are past their Easter sweets.
I would be covering IWM shorts if you haven't
stocks are interesting
again as Alibaba is raising all boats…
very interesting after big pullbacks with valuation, yes valuation
arguments to be made with those names.
rallies are bear mkt rallies and vicious and deceiving
. Gold will break $1300 today or tomorrow and move to $1250
before finding temp support.
- No inflation
- US growth is very real
- Fed is on course…
...And Yes, EM can continue to rally in this environment.
Less bad from
is good enough. Currencies were a little overdone and have
cooled off a bit paving way to test and push through recent
EM to DM
had respectable and tradable 4.5% pullback before reversing
small. Get back into this trade.