The SPY hit new highs this morning, came down and filled the overnight gap and is recovering a bit now. This is extended, we really need to cool off a little, maybe FOMC is the excuse to do so, but this market is hilarious. We’ve completely forgotten that the government is shutdown, that’s another bullish catalyst probably when it reopens, and we have most of the megacaps reporting this week. If those have strong reactions we could be looking at breaking 700 this week. Worst case is a few bad reports, FOMC is unfavorable tomorrow and we’re back to watching that 21 ema around 670.
My Open Book
Trades I Added Today
CCJ - I sold to open 500 of the 75 puts in December for .93. This was one I wrote up as a weekend best idea back in May when it was $51 here and it is $105 this morning after a strategic partnership with our government and a 20% gap up. This is the type of thing I was looking for with UUUU but Cameco got a deal first. Trump is all over these uranium names, he understands our needs and this was the first of what I think are many deals in the space to come which is why I upped my UUUU position yesterday.
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