Markets rose today on low volume but nasdaq and russell cash were able to make another high which was a bullish sign. I had mentioned yesterday that a retest of high was likely after yesterdays sell off and we did retest and were able to make new highs. SPY lagged but it may catchup. Sector wise we were led higher again by minerals/financials/oil/commodities/reits while defensive sector lagged.
Tomorrow is the big day as monthly job numbers are out and it could be big market mover. I eneterd some more long positions and bought SPY puts as hedge ahead of job numbers tomorrow.
Watch UNG, had a big hammer on biggest volume ever and I am heavily long in both my IRA and trading acct I think the ship is turning in UNG.
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About Me
- Sid
- A techy at heart who tries to keep in sync with ever changing technical and business world. A producer, architect, developer, leader, all rounder, like to do what I really love- Technology
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