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Market Uncertainty

A little choppy today as the investment community, minus a lot of retail traders, attempted to decipher the news.  Bad news on Home Builders and manufacturing kept the Bears square in the face of traders.  Earnings from LOW's didnt' help the Bulls, but after all was said and done, the markets finished mixed to flat.

Housing Starts, PPI data, Initial Claims will play on market sentiment and the uncertainty will continue. 

Precious metals are on the rise with concerns of the weakening dollar and China's move away from US debt.  Last month, China sold of $24 billion of the US debt it held.  Their concern is regarding the recent FOMC policy and increasing debt.

Summary:  The markets will continue in their uncertainty, and the trend will range sideways mostly, at least until we get major fundamental data to warrant an up or down move.

CTM trades

CREE - initiated an Aug/Dec 60 Call Calendar today.
RIG - rolled the Aug 40 short put to a Sept 45 short put.

Disclosure: Positions are noted in the blog