Market Report Bulls take charge
By
Todd Horwitz Chief Strategist BubbaTrading.com
Be Prepared not Surprised.
Last we asked who would take control of the markets. The answer is the bulls. They seem to be banking on a falling CPI and a Federal Reserve to slow their rate hikes.
However, nothing has changed in the economy and the CPI number is very suspect because of the way it’s calculated. Food and energy account for only 4% which is laughable.
Based on the economy and the information we have, it’s easy to make a case for a bear market. However, we don’t fight the tape, trend, or the FED. Until the trend changes it looks like markets go higher.
The options were bullish as well with call buyers leading the way (not always bullish). The next group of options are all bullish strategies, Bull Puts, Bull Put Spreads, Bull Call Spreads and Calendar Spreads.
The bulls were buying BBBY, AMZN, AMC, QQQ, and AAPL. The bears were selling, SPY, APRN, CTRA, SPXW, and NEGG. 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