Friday was a technical mess as the dollar plummeted, bonds blew through the roof, SPY recovered from an early S1 pivot collapse to close near the high of the day and the VIX, well, the VIX was down 1.25% closing at the low of the day. Trying to make sense of that action was far above my pay grade.. Volume picked up to 80% par as XLU hit an all time high jumping over 2% intraday (that's bearish). Surprisingly, the best looking chart is TLT.
Here's the T
raders Outlook for next week and a little ditty from
Reuters on the status of investor confidence. Our TLT puts crumpled on Friday's action and in response we doubled down 200% so our net cost is now $ .12. It's an iffy trade and we'll note its progress into expiration.
