200K = -$3,150
50K = -$860
Natural Gas and Gold were the biggest losers today as Natural Gas reversed all of yesterday's gains as we tried to buy the dip. 60 Minute Breakout Short E-mini S&P had a big day with 3 winners on the short side, all capturing 20 points or $1000 per contract. It was a great day to be short but many of the stock index strategies did not trade. There have been so many head fakes to the upside with market internals and VIX still acting bullish that the stock indexes mainly stayed flat today with only 3 strategies trading in the S&P and 1 strategy trading in the Nasdaq taking trades.
Crude Oil sold off and Bonds rallied. It was interesting to note the rally in the 30 Year Bonds while the Nasdaq sold off. I also thought we would get more continuation to the upside. These commodity markets are really weak and tepid when they are near 12 month highs. Wouldn't be surprised to see stock indexes trade at the lows of the week tomorrow and take out the Marko Kolanavic from JP Morgan dip buy call on Monday.
Comments