Daily Trackers, Settles and the MEGA8s
Here are the subscriber tracker updates as today we saw another decent US treasury auction with the 5Y going off well. There doesn’t seem to be a shortage of buyers at these levels. Anyway we will continue to await further data on Thursday and Friday. Here is how the markets shook out today:
Bonds were up across the board except for the 2Y sector. Equities were all lower, with the US dollar stronger, energies a bit weaker and Silver the weak link in metals. As far as our Futures Model Tracker, no changes today we are still favoring bonds over equities here:
As far as the MEGA8s our tracker is not hedged via the QQQ 445 call and we will continue to sell calls against this basket at current levels each week to hedge this static long basket. One thing to note on this tracker is that the hedged version is still higher on the year but obviously drastically underperforming the outright static long. However we believe if the market should start to generate some decent pull back moves, this hedged version will ultimately outperform:
Ok guys that is it, we will continue to monitor things and maybe you guys should take a look at PayPal, we have focused on that equity before, but the chart structure seems like its trying to put in a nice basing pattern. Its been pretty dead and flat for quite some time, but the potential for a run higher is there. Till next time. Cheers. Also we would like to congratulate the Florida legislature for passing a bill that bans 15 and under from social media. We believe this is a step in the right direction and we are in the camp that views social media as much as a detriment to young minds as anything else and they must be protected. We have driving age limits, drinking limits and this just makes good social sense to start scrutinizing the power of these social media companies and the influence they have on young minds!