The Market Is Not Rallying On A Solution – It Is Rallying On Hope. We Could See A Failed Breakout


I mentioned yesterday that this is a very dangerous market to trade. Monday, the market was down big, Tuesday it rebounded. Wednesday the market was down big, Thursday it rebounded. The market is filled with “noise”, but there was a very critical moment yesterday that caught my attention. All of the news out of Europe was very negative and the market had every reason to sell off Thursday. In line with comments I made, I bought puts when the SPY traded below 120.80. That was a good entry point and I felt the selling momentum would build throughout the day. Stocks …

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