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Daily Option Trading Commentary

Yellen Sugar High Did Not Last - Get Ready For the Next Wave of Selling

February 11
Posted 9:30 am ET - Yesterday Janet Yellen temporarily stopped the bleeding when she testified before Congress. As I mentioned in yesterday's comments, this sugar high would be very temporary. From the moment she started speaking, stocks pulled back. By the end of the day the 20 point S&P rally was erased and the market finished in negative territory. The S&P 500 is down 30 points before the open and SPY $182 will be tested. The Fed Speak rally was one of the easiest fades I have seen. Global economic conditions are deteriorating. China was the growth engine of the…
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