Tuesday, May 26, 2009


The futures are well off of the lows of the morning and point to what has become somewhat of my "theme" for these markets. CHOPPINESS I will say that I am planning to sell options in this type market. I am selling some puts on FCX. I like the company and can get some decent premiums on the options. I am also considering selling some calls on Caterpillar CAT. Even if the market rallies, I just don't see CAT jumping over the summer.

This morning gold and other commodities are down and we are hearing some of the talking heads talks about deflation again. I look at deflation talk as a great way to find what I want at cheaper prices. I don't see deflation as a problem at all. The North Korea nuclear test seemed to shake the markets for a short while, but not as much as I would have expected. As I am typing the futures are getting stronger and even though I am surprised---you can't fight the tape.

I won't make up things to say and while this is a much shorter post than normal---the market visibility is less for me. As we get more clarity, we will have more to say.
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