Stock Market Selloff
The charts and technicals say that the great stock market rally since last October is just about over, for now. A sharp correction(at least) is due to begin as soon as Friday with major bank earnings. The highflying, high tech NASDAQ 100 is stretched and due for a decent pullback. As I have indicated the three or four members of that group that had those large overhead gaps have mostly been filled. The remaining one, NFLX, should reach it’s $500 target, later this month after it’s earnings release. Money will be flowing from the general stock market into silver, gold and the miners going forward. (This is not investment advice, just my opinion.)
Yeah, I’m looking at this to and I’m I’m thinking to get some 6 months puts on SPX. Not big position, but enough to help my PF if markets start going down. They are stretched quite a bit…
Sold early but made some good $$ on HL calls bought last week. We go UP from here.