The big questions on my mind this weekend were: when am I ever going to finish my post about the socionomics of September Vogue, and why, if QE3 is supposed to bring down interest rates, is my TBT position up 9% since Wednesday.
I bought TBT as a test position, and while it's giving me some good intel, it might not be so good for the Fed. The Fed effectively shot their last bullet on Thursday. I've long said that there would come a time when the Fed would provide stimulus and the market would go down instead of up. We may be closing in on this soon.
Today is Rosh Hashanah. There is an old trading adage that says: sell Rosh Hashanah and buy Yom Kippur. The S&P looks like it wants to correct and perhaps fulfill the adage. But anything over 1470 would have me go against it and purchase more calls, probably some SPY 148s.
The 1460 area has strong support, so a break of that could get interesting.
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