Cage Match

After the long weekend, its time to get back to reality.

And reality can be quiet sobering. Last Friday the S&P futures closed at the lowest levels of the week. Last Monday's surge provided all the pump for what seemed a hopium filled few days. In addition, Fridays volume and volatility were pathetic as the market had a miniscule range for the majority of the trading day then dumped on the close.

Friday was a particularly tough day for Facebook (FB) and JP Morgan. FB tested back towards the 31 level, well below the IPO price and JPM gave back all of the Wednesday ECB-rumor-ramp gains. One might think that they were the only two publicly traded companies considering their stories completely dominate the coverage on the financial media. Its all FB or JPM, all the time.

Perhaps ESPN can get into the financial coverage game and promote a Zuckerberg versus Dimon cage match?

Trade well and follow the trend, not the so-called experts.

Larry Levin
President & Founder - TradingAdvantage