The Biggest Fake-Out
I have roundly castigated myself for taking the bait with this morning’s enormous counter-trend rally. I denied myself profits and prematurely exited positions based on nothing except fear (or, if we’re being very kind, risk-aversion). In fairness to me, this morning’s rally was the BIGGEST by far since Tuesday’s peak, but all the same, the nearly 300% gain I see in those SPY options I dumped kind of stings.
Ursine-Flavored Panican
This has not been my finest hour. Indeed, if I had decided to sit on my roof (picking at the moss, perhaps?) for the first hour of trading, I would have served myself better, because I gotta tell ya, this action from midnight until about half an hour into the trading day freaked me out.
Stairsteps
It’s a fairly quiet morning, with equity futures up about half a percentage point. Overall, the night has been a net nothing: the /YM spent the past twelve hours going nowhere.
Droning On and On
With our new age of warfare, I was curious if there were any ‘pure play’ drone stocks out there. Well, I found one, and as a chartist, I can tell you it’s a beauty: Kratos, shown below, which is sporting an absolutely beautifully bullish pattern.
