Looking For A Rally

I am looking for a rally this week for a number of reasons:

  • If we are down tomorrow we will have  a decent oversold reading

  • We are seeing a lot of put buying today and it seems that market participants are getting a little too negative in the short term.

  • The hiding spots are getting hit today (AAPL, PCLN,GOOG, MA). This tend to happen towards the end of a decline.

  • The current week is still seasonally strong.

As a result I have removed half my hedges today. Have a good night.

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