Major fumble today on SPX. Several things came together that knocked markets down including Iran / Israel conflict, Fed hawkish comments, Ukraine and Nato comments, as well as SPY not being hedged and call premium built up in tech names that came off. Plus an important jobs report tomorrow all seemed to make a perfect storm of an afternoon SPX dive with 0 bounces along the way.
I didn’t piece it all together until the market closed unfortunately so I missed the opportunity and there’s nothing I can do about that. NEXT.
Tomorrow I’ll be on the desk the first half of the day and then taking off for my birthday later on. Hopefully we get some good action early with all the index moves.
HUBC and PZRO are small cap Israel conflict theme runners. Maybe we get a continuation tomorrow but unless they are acting very strong I may sit them out.
The 10yr yield went down today which is a signal of war talk (flight to safety, people can rush to bonds and move yields down which is different than the normal Fed moving yields regime that we have been in). Let’s see how it acts tomorrow to give us clues about the news.
META may bounce back tomorrow if the market is strong and bounces.
HB
Happy B-day Chris!
happy bday!
happy bday