When I went to sleep the SPUZ were down 3 or 4 bucks, I wake up to find them up .75 (shock).
This morning we found out that new mortgage applications were "better than expected"...seeing that Fannie and Freddie (proud members of the DARKMATTER ETF) are the only institutions lending , the US government is going more "all in" on housing. Who cares?
AAPL is getting crushed for about .30 cents pre mkt. Watch out.
The other day I put on a "spread", I got long natgas futures and short crude futures. The historic relationship between the two is so far out of whack right now that it just seemed like a good risk/reward trade. Crude was like 68 and nat gas was 2.65 or so. So far its a small loser.
I see GE is ripping higher this morning, I think some brokerage firms have been upgrading the stock lately - they must be competing for some juicy GE capital bond underwriting fees.
So the ramp continues the mugging that began thursday afternoon before we found out how wonderful the employment picture is. SPUZ up $2 now - momentum chasing is the new value investing. Have fun!!
JB
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