Market Analysis, Nov 24th

Notes:

market still incredibly strong, holding levels into overbought makes things more overbought

our timeframe is one month, we don’t care if the absolute top of the market is in

VVIX telling us a story

main divergence is in breadth and emerging markets, biotech overbought

Themes

– semi bull put spreads. sector downgrade, bullshit to give institutions cover. I like KLAC, AMD, LRCX

– AMGN calendars
– RUT SSP Trade
– TSLA bups into low 300s
-COST pre-earnings breakout
– SPLK bull put spreads
– SPX put FLYs into any further parabolic movement
– SSP on AMZN

– TGT bull put spreads

– play MA for continuation

– “dogs” starting reversion
– ipo trainwrecks
– pot stocks
– MLPS a disaster – look at CEM
– late cycle metals moving… CLF, X

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