The collision of global markets and social mood

Friday, April 1, 2011

Happy April Fools' Day

1332.28. That's the number in the regular session that must be hit. The S&P futures rallied overnight and so far like the jobs number. I'm looking for 1332.28 to be hit and possibly surpassed. If so, 1344.07 will be the next target.

If 1332.28 fails, we could have one hell of a reversal.

Yesterday I bought SPY 133 calls, OEX 595 calls, and VXX. Hedging a bit right now in the pre market with SPXU, but position delta is still overall positive. If the futures hold or surpass these levels, the options will make this a nice trade.

Turns out Mother Nature has a sense of humor. April Fools' Day has brought us a heavy snowstorm.

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