Bullitt Trading
I woke up with something wrong going on with my system and I’ve spent the day just trying to recover enough to get productive. Regardless, the markets stop for no man. So let’s talk it.
Markets are flattish to slightly down on the day and there’s a quiet calm out there. The bears are shellshocked and scared that they’ll get ripped on a big break out. The bulls are still concerned that there’s a vacuum underneath the current prices and that any break down in Europe-land would rip their gains of the year out from under them. It sure “feels” like we continue higher here.
The bulls are Steve McQueen and the bears are the bad guys in this classic Bullitt movie scene:
And intermediate-term (say, 1-3 years), you guys know I think we can see tech stocks in particular extend their valuations as they continue to grow, thereby sending their share prices quite a bit higher before we truly need to freak out and get bearish.
No trades today, we were just at these levels in most of our positions and we’ve got a lot of upside and downside coverage.
