I've spoken to many traders recently who have pointed out the strength in bonds. Though they've all noticed that bonds are flat in 2 months as stocks are higher, the reactions have been … [Read more...]
TMO – The Italian Connection
5:33 pm EDT - February 25, 2013 By Kristen
The market opened higher on Italian election results until it turned out Berlusconi still had a chance. The S&P 500 hovered around 1500 until it broke it and broke hard. 1) SPY - taking up … [Read more...]
Too Many Options: Lowest $SPY Volume Since Christmas Eve
4:04 pm EDT - February 11, 2013 By Enis
On a day that saw the lowest SPY volume since 12/24/2012, index ETFs traded a good bit of protection. AAPL - Call to put ratio near 2 today, as the weekly 500 calls traded around 40k on the day. … [Read more...]
New Trade $SPY – #ForeverUp
1:49 pm EDT - January 24, 2013 By Dan
So the SPX finally breached the 1500 level this morning, a rare feat for the index over the last 15 years. The debate has heated up in the last week as we've neared this level. Is this finally the … [Read more...]
Trade Update $SPY: Options to Consider on Weekly Put Spread
3:03 pm EDT - December 10, 2012 By Dan
Trade Update Dec 10th, 2012: Almost 2 weeks ago when it seemed like the month of December was going to be littered with daily price swings related to the horse-trading in Washington and the dramatic … [Read more...]
Enis’s Macro Wrap – 1400 Holds the Key
7:20 am EDT - November 8, 2012 By Enis
As I wrote about in TMO last night, the option activity that stood out like a sore thumb yesterday involved the SPY Nov 140 puts. That line traded almost 350,000 times yesterday, more than double … [Read more...]
Chart of the Day – Russell vs. S&P 500, More Evidence the Top is In
2:06 pm EDT - October 26, 2012 By Enis
I posted the Nasdaq 100 vs. SPX index on Oct. 19th, going back 3 years, and posited that it was evidence that the market had put in a major top. Here is another chart that offers supporting evidence … [Read more...]
Chart of the Day – $AAPL and $AMZN, Winners on Deck
10:51 am EDT - October 25, 2012 By Enis
Here is a chart of AAPL, AMZN, and the SPY over the last 3 years: The 40% gains in the SPY look miniscule in comparison. And while AMZN is generally viewed as a huge … [Read more...]
Chart of the Day – EEM vs. SPY
12:57 pm EDT - August 31, 2012 By Enis
Today's chart should be taken with a grain of salt. I don't mean to present it here as evidence that we should be braced for an imminent fall. But similar to yesterday's chart, it is just one more … [Read more...]
What’s the Story
9:05 am EDT - August 24, 2012 By CC
WSJ U.S. stock futures leaned lower on the back of a mixed report on durable goods and continued concerns about Europe’s debt crisis and slowing economy. About 45 minutes ahead of the open, Dow … [Read more...]
Enis’s Macro Wrap – How You Measure the Market
7:51 am EDT - August 23, 2012 By Enis
Dan and I had a discussion yesterday about the proper way to gauge this market. The cause for our discussion was the increasing divergence between the Russell 2000 index and the S&P 500 index. … [Read more...]
Enis’s Macro Wrap – August Expiry
7:48 am EDT - August 17, 2012 By Enis
The SPX closed a few points from a new closing high, and has a new high well in its sights at this point. Though I have not posted any of my many risk-on / risk-off indicators in the past couple … [Read more...]
Chart of the Day – High Beta Underperforming Low Beta
2:31 pm EDT - July 30, 2012 By Enis
While index prices have marched significantly higher, this is not the type of market where a rising tide lifts all boats. Many boats are being left behind, evidenced by new highs vs. new lows (a … [Read more...]
Enis’s Macro Wrap – Europe for the Umpteenth Time
8:23 am EDT - July 20, 2012 By Enis
After another extremely quiet day yesterday, price action overnight has the feel of the usual European panic that we have seen so many times in the past 2 years. The Euro is back below 1.22, Italian … [Read more...]
Trade Update CAT – Taking off Half for More than a Double
11:02 am EDT - July 16, 2012 By Enis
Trade Update July 16, 2012 at 11:10 am: Since buying the CAT Aug 85/75 put spread for 2.25 on May 24th, the stock has moved almost 15% lower as Chinese weakness has become more widely acknowledged. … [Read more...]
Too Many Options: Macro Focus, $VIX and $SPY
Single stock options volume was much more muted relative to options volume in macro instruments for protection, like SPY puts and VIX calls. VIX - Apr VIX expiry is on Wednesday morning, so Apr … [Read more...]