June 7, 2010
Good morning. One of the few calendar, or seasonal, type plays in the market that has been most consistent since the early 1980’s (time I started in the trading business) has been the relative lack of volatility in the market from essentially the May options expiration through Memorial Day and even until the 4th of July. When I remember the years when I had 11 traders trading in our group on the floor of the CBOE and how difficult it was to not end up long premium entering a time of holidays, time off, graduations, etc. Not this year, it seems.
March 16, 2009
Good morning. A whole different tone in the market this morning from prior weeks, with the stock market staging a significant rally last week. Last week the S&P was up $7.17, from a close on March 6 of $68.92 to a close last week of $76.09, a gain of 10.4%.