Feels like Spin the Bottle
Where it lands, no body knows.
Took advantage of the morning strength to purchase April 142 SPY puts to protect against further downside.
I also purchased some COF, around 76.70.
I think yesterday’s decline was a joke, but it created the begining of our much needed correction. Now traders are thinking on the line of cautiousness, not bullishness which will allow for the correction. (The markets should correct, or trade sideways, throughout March and April.)
FYI… all this volatility and increased level of trading is good for the NYX. Take advantage of weakness, and buy some NYX… in stages of course. (My next major purchase, most likely call options, will be if the NYX sees 79.)
