OK trader buddies.. let’s check the action 90 minutes in today……….
I’ve been a bit under the weather…worried about Hef and wondering if (at his age) he’ll ever find true love again but the markets’ gyrations are more exciting than any belly dancer could deliver and so I’ll pause for a quick update. The metric of note today is obviously Volume BUZZ, which is finally showing some pickup, especially in bonds, GDX and the financials. We’ve seen this opening scenario before and over the past few weeks it’s ultimately delivered more pain than gain in the coming days. Thursdays are statistically poor days for a rally, at least when analyzed from the perspective of the close so I’m playing the curmudgeon on bullish prospects here and with Friday Ex Op looming the advantage is with the bears.
