Hopefully, the bulls can push the U.S. stock market close high. Euro is still strong, which is good for the bulls.
Some weak bulls took the profits so that they can sleep well over the weekend.
TBT drops like a stone falling from the sky. Hope our friend Ben has already took profits of TBT.
GM sinks hard too. But the volume of $1 calls and puts surged! Just wondering who are buying these options, either call buyers or put buyers win, or both give their money to the option writers. Over the weekend, GM may throw out some surprises .... Crossing my fingers. So fun to watch the GM show.
More are coming over the weekend. Enjoy !
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Ben,
ReplyDeletejust know you dumped TBT with gains. Congratulations. As I said before, bond bubble won't burst in short term, at least in 2009, and may be not in 2010.
Tiger
GM calls are too expensive now, for $1 June calls, with a stock price at 0.77, still ~ 0.10 ..
ReplyDeleteTA
TA,
ReplyDeleteI agree. GM's calls are expensive now. Normally, it is a bullish sign for the underlying stock.
I hope the June GM $1 call option can drop to below 5 cents.
JMO,
Tiger
Yeah.. I still think the Treasuries will falter.. I think people will leave treasuries and go to Corporate Bonds.. Where you may get better yeilds.
ReplyDeleteCorporate Bonds ? more risk ? such as GM bond
ReplyDeleteI think people will stay away from UAW related companies.. sound companies selling debts will have to start paying a nice yeild just because of the influx of offerings..
ReplyDeleteThat's a good low risk way to go.. which I think I might do, since this market is completely weird.
The massive massive MASSIVE volume end of day scares me.. institutional buying.. it had to have been.