Were you too bearish after the jobs report this Friday? Let’s set up the scene for Friday’s trading. We had bounced from 160 SPY to 163ish before the report. Then the pundits and traders began to battle at the 163.50 level. At first it appeared the buyers had won sending the market towards 164 SPY, but as traders we knew this … Read More
JToma talks Banks, SPY, and GS on CNBC’s Fast Money Halftime Report
News today was focused the repayment of TARP funds by 10 of the big banks. This news has been circulating in the market for quite some time and I believe that it was priced into the financials. The TARP trade for most financials is finished! In the broader market it seems that we are continuing to trade in a range. … Read More