The Closing Look
Stock Market Commentary:
Stocks rallied sharply on Tuesday as oil bounced and investors moved money into a slew of big cap glamour stocks. Amazon.com (AMZN) and Alphabet (GOOGL) broke out to new highs and have enjoyed very strong gains in 2015. On the economic front, the S&P Case-Shiller index rose by 0.9%, beating estimates for a gain of 0.6%. A separate report showed consumer confidence rose to 96.5, also beating estimates for 93.5.
Gary’s Thoughts: Paint that tape! Paint that tape! Actually, tape painting is illegal o it really does not happen.
Shorting Call spreads in both with High IV … even if miss direction IV has to come down after New Year…buy back at lower costs.