Challenges to an End-of-Day Rally?
Still higher bond yields (and lower bond prices) coupled with another rise in the price of crude oil (+$2.30) may suggest that a vigorous end-of-the-day (and month) rally might be challenged.
Position: None
Chart of the Day
Source: ZeroHedge
Monday Morning Market Stats
Volume
– NYSE volume 12% below its one-month average
– NASDAQ volume 16% below its one-month average
– VIX index up 5.75% to 15.26
Breadth
S&P 500 Sectors
% Movers
Nasdaq 100 Heat Map
Position: None
Why I’m Buying Hewlett Packard Ahead of Earnings
Breadth is at 33% gainers, with new lows running better than two-to-one on Monday.
More Bad Breadth
This is the third day in a row of bad breadth:
Position: None
Tech (XLK) Vs. Financials (XLF) Vs. Energy (XLE)
Charts from 9:49 a.m. ET
My Tactical Approach to Today’s Trading
I expect aggressive markups this afternoon as it’s the last day of the month.
All things being equal I will aggressively short that move.
Note: I have no index shorts on right now.
Position: None
As the Headlines Heat Up, I’m Focused on This Bond Fund and Energy
Summer is ending but the chaotic news flow won’t quit, so here’s my take on current events and how to trade them.
MSOS Trade
I am speculating on MSOS ($MSOS) September monthly out of the money calls.
Positions: Long MSOS calls S common VL
Our Game Plan for This Housing Play
The data landscape has shifted but developments this week could render a decision.