I am buying long-dated bull call spreads within the mining-and-materials sector.
Jobs growth, the euro or the price of oil could have taken the market down, but none of them did.
The hated industrials can make up some ground if the bears can't bring down them down.
You can use yield to gauge how far Caterpillar will fall, but the selling in banks cannot be bought.
Even though they're not reporting a slowdown, they're at the mercy of Europe and China.
The ongoing destruction of the cyclicals is pretty breathtaking.
The on-and-off recession call is overriding any company fundamentals.
Traders are betting on many different angles, so whatever your opinion, you can find a play.
Companies' positive reports count for nothing, so why not wait for stocks to pull back?
Recession seems off the table, which allows for good stock picking.