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Buyers Buying, Sellers Holding

Solid fundamentals from the likes of Cisco and expectation that the EU thing is handled, the markets had a solid uptrend today.  Put/Call ratios moved back into bullish territory at .87, yet the Put volume on the SPY suggests continued caution.

The US trade deficit has increased, but minus petroleum the numbers have decreased as the demand for US goods have found some traction.

Major market averages are pushing to and testing minor resistance at the 20-day EMA.  Whether or not it can be broken will be directly related to confidence in the EU fix and continued positive economic data.

Summary:  check your positions and consider that in some cases, hedging is still in order. 
CTM Trades:

AAPL- seems that the 270 Call options were mostly initiated by sell orders in May and the May 260 Puts were intiated by sellers as well suggesting a range between the 2 strikes, short-term.

AMZN - the June 125 long ptus were filled today.

Disclosure: Long but hedged on AAPL, neutral on AMZN