Trucharts.com - Markets Update - 10/24
We had indicated that markets will move higher this week and the VIX has to move lower and that is exactly what we are seeing currently. HYG is up today and it is driving the markets higher. Our positions are stil holding long AAPL and watching BABA. Expect some consolidation next week - due to heavy earnings calendar next week. Our short on GM is still looking good. Our IBB position is hurting but we wrote puts against this position. Many biotech earnings are coming out next week. We will have to watch these closely - the biotech stocks are very extended technically.
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