 |
| Volatility products really picked up today, especially since the SPX was only down about 5 points. The Vix futures are in backwardation again. I think were in the process of setting up for a nice correction but only time will tell. People have been conditioned to buy the dip for the last year. |
 |
| The Biotech ETF which was up just about 100% last year has pulled back 8% from all time highs. Its currently at its 50DMA. Some of the high flyers in there have started to crack. Ex. GILD |
 |
| So far this is a very mild pullback of about 3%. Some of the untouchable nasdaq stocks from 2013 have taken some heat this week. |
 |
| Bidu was sold pretty hard this week. While FB has been extremely strong lately moving as much as aapl in a day even though its 1/7th the size. |
 |
| Brazil, Japan, and China have been beaten down this year. While the Russell remains up almost 2%. Still no fear in the US markets. |
 |
| Metals and Miners have had impressive runs ytd. This was something I predict at the beginning of the year and I believe they still have plenty of room to run. |
 |
| Coffee prices have risen 80% YTD. I expected coffee prices to rise, but this was much farther than I could have imagined! |
 |
| 10 year yield has been trading in bull flag. I would expect to see increasing Yields but if the market sells off people might rotate to treasuries for safety. |
 |
| Another ridiculous example of the market we are in. Plug power was up 1500% since december of 2013. The other day it lost 50% in 2 days. I made some nice money on the way down being long puts. I heard stories of people blowing out account buying this stock on portfolio margin. This stock was up less in the internet bubble of 99/2000. Since 2000 they have lost 850 million dollar and before it cracked a few days ago had a billion dollar market cap. If you buying these stock you better hope your not the greater fool holding the bag... |
 |
| Caught this screenshot on the way down. Happy trading and don't be the fool holding the bag. ;-) |