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Choppy Market Makes for Difficult Trading

|Includes: Microsoft Corporation (MSFT)

from by Bagger Vance Sign up for FREE membership!

Posted a good win on Mr Softy today

  • 09:41 | Bagger Vance MSFT ($20.00) Sold to Close MQFER May 18 calls, at $2.19 +56%

    Given the overbought market we expect to see some selling, and that happened early.  But the bulls came back and gave it a good try, but the markets mostly finished flattish.  End of the month, Fed meeting and earnings are the big weights on the market now.  Gold, oil, bonds and the dollar retreated before the Fed meeting.  Bank stress test results are out soon and it's not such a bad idea to wait things out a little longer.  Volatility was rather sublime, there is some high complacency right now.  Perhaps the next few days will signal some market direction.

    Hit 'em straight!