ES, NQ: Pip Pip, Cheerio
Tim Knight | Jun 09, 2017 08:36AM ET
As I expected, the Super Thursday's market-moving events turned out to be a big, fat non-event. As I type, the ES is up a tenth of a percent, the NQ is up, but less than the ES, and I’m not so sure traders won’t be gathered around their screens on Saturday staring at quotes, since it won’t seem much different than any other day this week.
If you look at the ES over the past month, it is either steadily ascending or, from time to time, makes a bit of a jolt higher.
For myself, I remain steadfastly short, with a concentration in energy and retail sectors, and, as I’ve mentioned a couple of times, I’m long a slug of QQQ July $143 puts. My ETF-only portfolio consists of a mere two positions – SDS (the ultrashort on the S&P) and ERY (the triple-short energy). In spite of the market notching highs every single day (with the notably exception of Saturday and Sunday, which are strictly bear territory), my ETF portfolio is nearly a lifetime high.
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