Thursday, August 15, 2013

Trades for FRI August16, 2013

RTS-OS Portfolio and Trades
RTS-OS Sells HPQ and Buys P at the Open; Covers ABX and shorts EXPE at the Open

Today was actually an interesting day. They were unloading small caps, but the move in cash indices were all on the back of selling (hedging) SPX and NDX futures. My guess, between now and labor day, is that we move up to back test the trading range (1670 to 1710) with big caps leading. Also, keep in mind that we have opex this week and we are experiencing extra volatility due to low volume.  My conclusion is that we are at or very near a short term bottom.

Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change N without notice.