Saturday, July 06, 2019

Weekly: Bull lurches forward


The zombie bull continues to lurch forward with more new highs. My account benefits from the upward tide. Some discomfort is caused by too much up movement against sold strangles. Boeing continues to want attention. I sell some strangles on UBER with a slight bullish tilt. I continue to sometimes buy options to rebalance back to desired delta.

The long list of warning signs remains (CAPE, GDP to market cap, inverted yield curve, hot IPO market, people quitting good jobs to trade, people that have ignored the market for decades now interested), so I continue to be cautious. I won’t lean bearish until the technicals break down, or there are signs of a melt up in the overall market.



No comments: