What’s Up With Intel?
Yo Pit Crazies, The market conditions right now are waiting for the next Fed Rate decision, coming at 2 p.m. ET today. Traders already bid up options in SPX and they got another ¾ of a percent rally today. I’m thinking 4400 or higher SPX easily this week. Right now Nvidia Corp (Ticker: NVDA) has […]
One Last Summer Rate Hike
Yo Pit Crazies, At least for a couple of days, the Gamma Bomb is going to hold off. We have a CPI number and yet another Fed Rate Decision. Anyone reading this newsletter regularly knows that when the Fed speaks, odd things happen. Even until late last week there wasn’t much of a bid for […]
The COVID Vol Event Is Over!
Yo Pit Crazies, Most people like doing what they are comfortable with. Investors are the same way. Fads and fashion in stocks aren’t a whole lot different than clothes. What’s good this season is dead the next. Remember the commodity squeeze last year? Oil stocks are going nowhere in 2023. Tech in 2022 was dead […]
Mark Could Be Right Sooner Than We Think!
Yo Pit Crazies, The Invesco QQQ Trust (Ticker: QQQ) recovered yesterday to reclaim some gains. For the most part the ticker was $289 in March – now it’s $355. The safety of big tech is still blaring like a klaxon even though earnings growth slowed for last year. 3 month QQQ chart with 30, 60, […]
So Is Anyone Watching the Russell 2000?
Yo Pit Crazies, The shorts on Twitter are going nuts. They finally have a day for the Invesco QQQ Trust (Ticker: QQQ) and it was down 1.75%. That’s a drop in the bucket on a 32% rally in 2023. The next index to catch fire is the Russell 2000 Index Trust (Ticker: IWM). It would […]
How to Understand Trading the Option Market
Yo Pit Crazies, For folks that follow my daily posts in the OP Newsletter and Vol Man on the weekends, you’ll notice I have liked VIX puts lately even though the market has been going steadily up. A quote from my Sunday Vol Man piece: “All 3 vol events recently ended up with positive SPX […]
AAPL Goes Meta
Yo Pit Crazies, So Apple Inc (Ticker: AAPL) produced an AR Headset for $3400. I guess they wanted something more expensive than the iPhone that their audience does not have. Check the audience reactions on Twitter yesterday – underwhelming at best. Facebook changed to Meta Inc (Ticker: META) over a year ago to much fanfare […]
The Recession Is Over Before It Started
Yo Pit Crazies, Quite the week we had! The Repubs and Dems got together to agree to spend no more/a ton of money for a few years. Traders cheered. That’s because for the last 3 years, it was total madness on the fiscal front, driving inflation to 40 year highs. I might not be in […]
The Rest of the Market Starts to Participate
Yo Pit Crazies, Nvidia Corp (Ticker: NVDA) had a down day yesterday only to be up $20 today. MongoDB Inc (Ticker: MDB) is up $60 after shredding their earnings numbers after hours on Thursday. Some companies somewhere are selling the stuff people want. The Invesco QQQ Trust (Ticker: QQQ) still out performed SPX. DJI squeaked […]
VIX Futures Down, Market Down, What??
Yo Pit Crazies, Once again, the broad market was very weak yesterday. Even Nvidia Corp (Ticker: NVDA) and Advanced Micro Devices Corp (Ticker: AMD) had a red day. The most surprising red day was in the VIX futures. SPX, the Invesco QQQ Trust (Ticker: QQQ), and the iPath S&P 500 VIX Short Term Futures ETN […]