April 13, 2018 | Here’s the Plan for a Boring Friday

Consumer sentiment is the only news on the economic calendar for Friday, so the stock market will be on its own if DaBoyz are intent on stirring up some craziness to end the week. Thursday’s rally was strong but hardly insane, and the moderate selloff in the final 30 minutes should help dry up selling overnight. Accordingly, we’ll be looking to fade moderate weakness on the opening, so check the chat room for a possible ‘jackpot bet’ if you want to try leveraging a possible reversal on-the-cheap. _______ UPDATE (April 13, 1:15 p.m. EDT): In retrospect it is moderate strength we need have faded, but this will always be a coin-toss bet. Next time, we can be prepared with two such bets, one in either direction.  A bid for Apr 13 1635 puts would have produced a winning outcome today, since the option traded down to 1.04 in the first 15 minutes before climbing above 4.00 shortly thereafter.

Rick Ackerman April 13th, 2018

Posted In: Rick's Picks

Next: The War the Deep State Doesn’t Want to Win »