Little Conviction

I don't have much conviction but am remaining unhedged. My only remaining long position is Amgen so there is not that much to hedge anyway. We have seen a lot of put buying in the past two days and therefore I think that any break below Friday's low would be regained pretty quickly. The bears can argue that the near term oversold condition is being relieved by going sideways. This market does not like to make anything easy.


nicasurfer said...

I just saw $300 bid for aapl

Tsachy Mishal said...

There is confusion because they changed the way they account for iPhone sales.