During last week's Brunch, I called for some sort of corrective move to work off overbought conditions in equities.
Corrections can either go through price or time and we got the latter.
So what now?
We've still got Europe indigestion that is curbing our risk appetite, and the newsflow is reaching a fever pitch.
But both implied volatility and actual volatility continue to sink.
This week's video discusses this, and much more.
In this Episode of IWO Brunch, we Discuss:
- how the smaller gap moves in the $SPY might be signalling an attention shift away from Europe
- why $USO and $SLV will make great short hedges against any long stock positions
- what stocks to watch to see if breakout failure rate remains high
- the big bearish problem in the Euro ($FXE)
- how old tech names like $MSFT $EBAY $YHOO and $INTC are putting in great longer term patterns
- individual requests taken from my Twitter and Stocktwits streams.
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