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The day isn’t quite as big a kick as I thought it might be, but steady as she goes. On the whole, I am in wait-and-see mode. One in particular worth watching is Advanced Micro Devices. In particular, I’d like to see it get as close to that gap as possible.
Relevant not just to MSFT but to QQQ as a whole:
My enthusiasm for this market remains tepid, but the trio of charts below are worth sharing. I purchased puts on ANF (August $40) and BURL (September $250) just now, taking advantage of the gap closure. I was thinking of puts on SIVB, but the spreads are too horrible, even for me.
After my epic previous post, I figured I was done for the day, but nope, let’s do one last quickie. Below are six major U.S. stock market indexes. I merely share this to illustrate the importance, and the consistency, of the price gap that was defined last weekend. I have anchored each recent horizontal to the same gap. Let’s just agree that it would help the bears an awful lot if we managed to stay below these gaps.
