Dollar down, durable goods up, markets open higher and climb even more. All those who were short near the close yesterday as markets dropped are clearly getting squeezed. Who knows how long this goes on, but for me it is time to lighten up-again. 20 SPY points in 30 minutes is just insane….
Am going to be extremely contrarian and stick in a bid for November puts knowing fully well that if this madness sticks today, the VIX will drop on Monday.