Investor sentiment seems to be a pretty good measure of where the prices will go in the very short term.
Today’s update shows that bullish sentiment rose from 30%+ last week to about 45% this week. Looks like the price has further to go.
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Corrections on SPX have been getting more and more shallow.
(SPY: 135.36 +0.13%) touched 13ema today, and closed above it. Wonder if this is all the reaction we’ll get this time as well. Stochastics are still very overbought, and I’m still betting on a larger drop, holding March SPY puts.
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I haven’t opened any positions this year yet. “Babysitting” these:
(AAPL: 493.17 +3.46%) Apple, short via January puts
(BAC: 8.18 +0.62%) Bank of America, option straddle, neutral
(BEE: 6.37 -1.24%) Strategic Hotels & Resorts, long stock
(LYG: 2.22 -1.33%) Lloyd’s, long stock
(SPY: 135.36 +0.13%) S&P 500 SPDR ETF, short via March puts
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