Wow, what a day, as the market shook off a weak GDP revision for Q1, and the S&P closed at an all-time high. Weekly jobless claims came in lower than expected, and folks are citing that as the reason for the rally... My thoughts? - Earnings season for Q1 came in better then expected with a negative 1% U.S. GDP, not only that, the number is two months old. Q2 GDP reading will be very important now and needs to be 3.5%+...
The next big market mover is the ECB next Thursday... inaction on Draghi's part will result in a market bloodbath. Negative rates and some other accommodative measure will result in a 1%+ global equity rally. Will be watching VERY closely.
A great day for some options trades as SCTY squeezed out of the gate, SHLD ran hard, and YELP calls bought at the open turned into 7x+ baggers.
PCLN, AAPL, NFLX, and others moved nicely as well. Can't play them all folks, so pick and choose your plays... YOU WILL MISS SOME! Tomorrow is another day and another trade.. the market will be here!
Here are my current positions:
Have a Great evening and see you tomorrow morning!