After a nice two day rally, we are down a bit in the premarket this morning. The jobless claims #'s came out at 8:30 this morning and they were much worse than the already very bad numbers that were expected. For some reason the market is going up on this, which makes absolutely zero sense to me. I will be extremely patient this morning to let the market settle in for at least 30 minutes to see how the open gets digested. If we push up and find resistance I may look at some short setups in AAPL, FB, MSFT, AMD, or NVDA. If the market looks strong I will likely look to some names that have shown relative strength and/or corona virus plays like PTON, WORK, or CLX for long setups.
Yesterday I took a new swing position in RCL puts. It looks like the Senate bill that passed last night is bad news for RCL as we hoped, but so far its not reacting like the market has figured this out. Hopefully my understanding of the bill is correct and the market figures this out. I am willing to hold this for a few days, and if it doesn't move by then will move on from the trade.