$SPY, $STUDY, In addition to
the Option trade posted earlier today the $MU Micron Technology position was
closed as well on an opinion downgrade.
Stocks left something for
both bulls and bears at the end of the day. Bulls probably breathed a sigh of
relief as all major indexes finished above their 100-day moving averages. Bears
would probably say that the near term trend is still down. One thing which everyone
can agree on is that volatility is likely to remain high. Earnings season just got started and has
several weeks to go and the correlation between stocks prices and crude oil
prices is still high.
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