next cleave in spy... any news fueling this
Greetings ammo. The ECB specifically stated there will be no sovereign QE. They are focused on buying high quality private sector debt. So austerity prevails in Europe and there is no forthcoming ECB QE that will flow directly into equities. Eventually the ABS program might help, but that will be 6 months to a year out in terms of that liquidity finally trickling into equity portfolios.
I am long RUT puts from 1180 for the trend line break and consequent test of 1165. Some of that is off now and I will take another piece at 65 with rest held for more tomorrow to see if we can follow through to RUT 50 or less.