Quiet trading day. I made a very small intraday play (completely out of my usual style) in FITB. A typical "go with the (institutional) flow" kind of trade that I make when I don`t have anything else to do. That position is out of the money, but its only a chicken`s feed position. I think I did it mainly because I was bored. I will tell about how that trade turns out in the end of the day.
I am still short oil with a big position, as I am waiting for a big correction in the next few trading sessions. This is the position I am focusing on and I have waited several weeks to find a good shorting opportunity in the NyMEX Crude Oil Futures. I have certainly increased my odds of profiting big in this one.
The Initial Claims data in the US came higher then expected, with continuing claims at an all time high. The Jobs picture is not improving and I don`t think we will see many more green shots (as they say) in the near term.
I was bored to death in a meeting with some Fidelity`s representatives that were trying to convince me into mutual funds. I did not even know that Mutual Funds still existed. :)
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