The Best Summary of The Week – Fri March 1 2013

1) NEVER SHORT THE MARKET WHEN BERNANKE MAKES 3 SPEECHES IN ONE WEEK. 

2) Any bearish sequester effects can only take place if mainstream media plasters it as a “doom and gloom” situation for a few days. Perhaps over the weekend.

3) This primary bull market is extremely, extremely strong. I am beginning to think it is possible we break through the multi-year triple top on SPY by early April (thanks Uncle Ben). 

Image

Congrats, bulls. Ben had your back this week.

The next two weeks, however, will be volatile as we are strongly setup for some consolidation.

Next week, options open interest is highest in the SPY 150 puts and 148 puts. Pretty bearish. Also in recent weeks, Green Fridays have mostly brought Red Mondays. We’ll have to see what happens over the weekend to make any attempt to figure out Monday’s move.

Happy Sequester Day

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s