Friday, May 3, 2013
Who is responsible!
I came in so short today it is not even funny! However, I was up money! I really do hate this constant grind to the upside. I really would like to see some two sided trade. I came in short 30 SPY beta weighted delta, but I did end up decreasing some of my short delta. I have been fairly delta neutral after the market had that big down week, but I still have always been short. I really want to know is responsible for the market going up, in other words, who in the world is buying. I like the down move in bonds, as they are know trading around 147, down 2 points today. A very interesting, cheap, long play is in the yen. The yen was totally crushed today down .000106 trading at .010104. I really do hope the market gives us traders something to act on. Maybe some sort of topping action. Please? Again the whole market is such a short besides maybe SLV, GDX, CLF, and NEM. A trade I did not realease was the Euro short. I have the long 129/130 put spread in June. I really do not see any longs in anything else. As for natural gas, we saw a huge down move. I have closed my bearish position, and maybe it could be a short on a good up move. An interesting pairs trade might be short Gold long silver, and I would give it an upside skew in silver due to my directional bias, as silver is very cheap compared to gold.
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