Market Update March 18th

Good Morning,

We are looking at another significant gap down this morning for all of the major indices as the futures have already hit limit down, and we could be looking at circuit breakers halting the market again this morning. Yesterday the Fed and the WH announced various measures to help the market and the economy. The market liked these, but we are not seeing any follow through today and we remain in extremely volatile times. Yesterday we were able to take a nice win on GLD calls, which was great to book a swing trade win in this volatility. For today I will be focusing on day trades and again looking for some short opportunities if the market rallies and some large cap names like AAPL, FB, or NFLX rally and hit resistance. I apologize for the lack of a formal watch list, but we are in some unprecedented times and need to be patient here.

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