Market Report FED speak, Jobs, big rally
By
Todd Horwitz Chief Strategist BubbaTrading.com
Be Prepared not Surprised.
*** A special note, Tradier is sponsoring our Las Vegas event which is at Circa starting on December 5th and ends December 8th. The event kicks off Monday night December 5th with a cocktail party, followed by class December 6th,7th, and 8th.
Markets had a crazy week with the fireworks starting with the FED and Chair Powell’s statement on Wednesday that they are considering slowing the pace of rate hikes. They think they have a handle on inflation which is false.
Look at the Black Friday sales, it was a record 9.2 billion or an increase of 2.2%. However, the CPI is 7.7 meaning that sales were in fact negative 5.5%. It is always interesting how numbers can be twisted. Friday’s jobs were supposedly good however they were part time jobs.
With the VIX continuing to fall, option sellers are in full control. For the first time call buyers were not at the top of the list. This week’s leader was Iron Condors, Bull Puts and Put spreads. In other words, the bulls appear to be in full control.
This week the bulls were buying SI, SHW, AVXL, SPX, and AMZN. The bears were selling the indexes, SPY, IWM, QQQ, SLV, and PDD. Keep in mind Jeff Bezos is telling consumers to slow down their spending.
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
*** A special note, Tradier is sponsoring our Las Vegas event which is at Circa starting on December 5th and ends December 8th. The event kicks off Monday night December 5th with a cocktail party, followed by class December 6th,7th, and 8th.