Too Much Excitement

I think there is a little too much excitement this morning. Call buying is very high. I am sticking with my positions but am less excited about them.

1 comment:

PJ said...

I'm approaching a decision point. I'm slightly underweight on the short side from what I want to average now through October.

My trading plan was to re-acquire some shorts today near resistance at 1093, aiming to be slightly overweight for Thursday's unemployment claims report (might approach 500k) and possible de-risking before the holiday weekend.

I will probably wait until the close before deciding whether to execute that, on the theory that ETF rebalancing may extend today's up move into the close.