- The pattern of out performance of financial stocks and consumer discretionary over commodities and tech is continuing.
- There are a lot of Puts being bought. While the market fade should be concerning to the Bulls it would be more concerning if there was heavy call buying.
- What would make for a great shorting opportunity in my opinion?
- S&P 1320-1350
- Financial companies using the rise in prices to issue more common stock to the public (ie. not to sovereign wealth funds or private equity)
- Heavy call buying
The strong open has been faded by market players. This is what I am seeing: