Wednesday, October 14, 2015
US market update
Looks like there could be another rollover for a bit.
SPY's not rolling over as much, but whatever. We'e seen so many fails at 3 points above the SMA(50), one more seems reasonable to expect, even if it only results in a higher low around $190 or so.
And maybe people will barf their short volatility some more. That's good, I'd very much appreciate the opportunity to buy back my HVI at 50% cheaper.
What's really cracking me up is, now that downside protection has gotten relatively expensive, Whitey is looking around for cheap US puts and has realized he can buy gold and the gold miners for a song.