Stepping aside.

That post about after-hours versus the trading day rings true today. My adherence to two-sidedness also pays off with gains on both Amylin and BA to book  this morning. Nice way to start the week. Losing my feel here and my instinct says to cool it for now and not push my luck.  Mean reversion implies that bad calls will follow the good ones pretty soon.  So here is one. The market will probably chop around 1300 spy and put everyone to sleep today.

The folks at Bespoke are out with another report about how forward guidance from companies reporting earnings is quite tepid and has been getting so since last quarter (here).  Names I will look at for short side bets include Monster, Citi, Apollo, 3M, SPG and Nike for now. Technically, a golden cross is when the 50-day crosses the 200-day to the upside which may be about to happen, even CNBC noticed it this morning. Spy holding recent support levels of 1306 for now.  Sleepy it is.

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