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With news out of a prospective $18 billion settlement in the works against opioid makers, McKesson (among others) is shooting higher this morning. I’d like to humbly suggest you consider this as a short idea. I actually went hunting for puts on this, but they have ungodly wide bid/ask spreads, so – – forget it!
ES has spent the whole of October in a low cycle but so far the action has been all sideways, with a strong rally last week taking SPX back close to the highs on the hope of a China deal. There was a China deal, albeit more of a glorified breathing space while more talks continue on the many tricky points of contention on which there seems to have been little or no progress so far, and there was good news for Soy and Lean Hogs, which are now cleared for purchase by China. With the Asian swine epidemic having had such a severe effect on herds Lean Hogs particularly look like a very interesting long here.
(more…)I was going to say that China was having second thoughts on the “skinny” trade deal before the ink was even dry, but, well………..
See, it wasn’t even on paper. Thus, my tweet:
What I try to do on this site is analysis. More specifically, my own thoughts on the market, a place for you folks to share your thoughts and ideas, and the tools to experiment and analyze on your own.
On a day like this, though, there’s hardly any point. We’re all just waiting for the latest word on what day the Chinese delegation is going to fly home, whether or nor they’re in Business Class or Economy Plus, what gate their flight is at, and whether or not they signed up for Global Entry. It’s just ridiculous.
(more…)Good God Almighty! I seriously thought we were done with this. I was driving at the time, so I’m glad I wasn’t staring at an ES chart during this mayhem, but………..IMHO OMG:
