As I said this morn, market looking weak, no direction, reason is simple, interest rates going up, 5.5% on a cash basis bond. If this continues, we will make a fortune on the put side, big time, on all the high flyers. All of them, if the move in rates continues.
As for the FED, again, watch what they do, forget what they say.
(and rates are moving up) GO FIGURE!
I went short the s&p futures early today, I could feel this coming.
This also has no bearing on our small and micro cap plays. They are the only things of real value left in this market. Rotation will find all of them, in turn. |
