Triple Witching
What
Does Triple Witching Mean?
An event that occurs
when the contracts for stock index futures, stock index options and
stock options all expire on the same day. Triple witching days happen
four times a year on the third Friday of March, June, September and
December.
This phenomenon is sometimes referred to as "freaky
Friday".
Well gang get ready for a ride this week. Yesterday the Dow was up 116 points and ended the day giving it all back and then some, the SPX down a couple of points. Best Buy missed Big Time this morning on earnings. Wow a 14 point miss, that's huge and it tells me that the consumer is definitely being cautious and not spending. Mohmmad from Pimco stead fastly thinks that this year will not be a big recovery but the signs are things are about to delever and I agree 100%.
That being said the FUTS again are higher, and it appears they want to retest yesterday highs, what concerns me is if they knock on the 200 day MA again, they might just get through.
That being said I am long Gold (coiling to go higher) long Nat Gas and short the S&Ps along with BP . Now we either will fail this morning and really head down, or the right shoulder to 1150 is still in play. So hard during a triple wacky witching to know for sure.
GLTA Peace Love and be kind to a critter please!
Anna
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