Todd Horwitz Commentry

Market Report Bad news absorbed

The markets continue to absorb bad news that the administration says is good


Market Report Bad news absorbed

By

 

Todd Horwitz Chief Strategist BubbaTrading.com

Be Prepared not Surprised.

 

Markets remain thin and in wide sweeping consolidation. Neither the bulls nor bears have been able to seize control. For the past year we have been watching a wide sweeping congestion pattern, which is good for no one.

The markets continue to absorb bad news that the administration says is good. 6.5 CPI is B.S., and we know that our spending is higher. The FED says it will continue to hike rates.

Then we have loan defaults on cars and homes telling the banks have problems again. Credit Card debt is at record levels and consumers are paying usury rates. Eventually this will play in the markets.

Last week option traders were like markets, confused. As is the normal call buyers leading the way. We know that call buying is not necessarily bullish, there was put buying and selling as well as Iron Condor selling. The key in options is the falling VIX, too much complacency

The bulls were buying BBBY, AMZN, AMC, IWM, and COST. The bears were selling, SPXW, W, MSFT, CVNA, and SPY. Like last week, a mixed bag with little direction.

As traders and investors, we have one thing to remember, follow the trend of the market. Be patient disciplined and leave your emotions out. The most important thing to remember is money management and self-control.

 

 

 

Todd “Bubba” Horwitz

BubbaTrading.com

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