sp'60min
Summary
*closing hour certainly saw some weakness, but nothing significant.
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Awaiting earnings from INTC and NFLX
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So.. the Greeks helped break the market lower, and the initial wave from sp'2044 is likely complete.
By late Thursday, rising trend will offer support around sp'2085... so a gap fill around 2080 won't be easy.. but is somewhat more likely than not. If sp'2080s... that will likely equate to VIX filling the price gap in the 15/16s.
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*I hold long-VIX overnight... seeking an exit in the 15/16s.
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4.04pm.. INTC beat... stock soars..
EPS 55 cents vs 50 exp. Rev' beat. Nothing bearish there.
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NFLX, EPS 6 cents vs 4. rev. missed..
So.. yours truly decided to drop INTC ahead of earnings yesterday (fractional gain), and has missed out on a 200% options gain. I suppose it could be worse.. I could have been short it.
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more later... on the VIX