Friday, August 6, 2010

Thursday's trading session recap

Market internals were flat to negative with more weakness on the Nasdaq than the NYSE. Cumulative ticks seesawed in a narrow range all day but finished up just 5,000 mirroring the price movement. What's notable was that volume was pathetic hitting multi-month lows. Total lack of conviction at this point and shows that there are a lot of spectators at this stage.

I sold half my OEX position for a $0.30 credit and tried to close out my short RUT put spreads for $0.45 debit but only got filled on 1 contract. Overall it was a pretty positive night for my positions as the long bond position started to decay a bit.

I will try and take off a bit more of my positions in anticipation of some kind of move in tomorrow's session.

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