Quick Update

 

 

 

by Larry Levin

 

 

Here is a quick update for Thursday’s activity.

• Producer level inflation (PPI) was released in the morning and was hotter than expected.  But don’t worry; somehow lower iPad costs will negate these higher costs according to the Fed.
• Weekly jobless claims were much worse than expected and the prior week’s “good” data was, naturally, revised much worse this week.
• Greek debt yields at highest levels in history - default immanent.
• Portuguese debt yields rising sharply – massive strikes immanent.
• European “elites” panicking that a Greek debt default will cause an immediate chain reaction of defaults.
• US stocks gap open lower.
• Within minutes, all is forgotten and US stocks rally.
• US stocks close up for the day – Pollyanna spotted throughout the day.

 

 

Trade Date: 4/14/11
E-Mini S&P Trades*
(before fees and commissions):

OTF buy @ 10:03am at 1305.75 = +1.00 & +.50 (2 lot) VA sell @ 1:10pm at 1308.00 = b/e & b/e (2 lot)  Algorithm positions (6)  “Reading the Tape” positions (5) ...combined Secret’s, Algo, & “Reading the Tape” total... +4.75

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