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There is just too much positive action to be overly negative.
With the long weekend beckoning, the action will only get slower.
Short-term plays based on my SPY puts.
Does today's bounce means this little correction is ending?
Some large account could have liquidated positions yesterday.
The danger is that market players start selling out of boredom.
A lot of them are covering their wrong-headed short positions.
Not much reason to sell right now.
Especially when it comes to IPOs.
It helps to understand how the market digests different fears.
There was enough buying interest to overcome early jitters.
It's the opposite of what we saw in March and April.
Except being left out of a market that keeps making highs.
Its IPO went well, and the company makes a compelling case for IT professionals.
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