Rocket Equities & Options Report By Tommy O’Brien Mar 28, 2023 The banking crises may have calmed for now, but the underlying dynamics of the banking sector will be a constant headwind for markets and the Fed going forward. I do not see the Fed cutting like the market currently prices in this year, unless something really changes quickly in this economy crushing profits and causing unemployment to start rising dramatically. And I just don’t see this banking scare causing enough tightening to squash inflation, especially within the pockets of the economy where inflation has persisted. Employees are steal...

.618's are everywhere in this market! The ES traded right to the .618 and then gave it all the way back! 70 points up from the close last night, and 70 points down from the high made this morning, and it's not even 3pm ET.  We are selling our options position. We are up almost 100% since yesterday. Sell to close the $400 SPY Put. It is trading at about $7.75. We got into it at about $4.00 yesterday. No reason to risk it when this market is going to give us plenty of chances in both directions.     ...

Markets have popped this morning, yet I see nothing that has changed since yesterday when this market traded down 100+ points in the ES following the Fed announcement and press conference. We are holding our $400 SPY puts for now, and this is still a high risk trade. We are right at the .382 bounce from yesterday's sell off. I can see this market even getting up to the .618, which would bring the ES up to about 4,032, before selling off rapidly today or tomorrow. All the pressure is still to the downside.  Stay tuned for updates!   Disclaimer:...

  Rocket Equities & Options Report By Tommy O’Brien Mar 23, 2023   It’s Fed day, and while the banking crisis looks to be somewhat contained, at least from the outside looking in (No one really knows yet whether it is actually contained), inflation is still present and will be front and center today when the chairman speaks at 2:30pm ET after the rate decision at 2pm. We are going short this market. We are right back to the .618 retracement of the entire move lower in the ES Futures from the Feb 14th high. We are buying an SPY...

Rocket031323   Rocket Equities & Options Report By Tommy O’Brien Mar 13, 2023   Last week’s letter talked about an AB = CD that could bring the market down to about 3,825. When I sent out the update last week we were at about 4,020, and we almost made it in the next 3 days, reaching a low of 3,846 last week. The pain does not look to be over this morning as markets are lower even after the Fed and Treasury responded as powerfully as possibly last night by guaranteeing all deposits and creating a special vehicle for banks...