Overall flow was mixed on Friday .. Call buying was extremely selective & the flow as a whole in individual names was really a non factor on both sides .. Repeat names saw the best of call sweeper activity led by aggressive buying again in PYPL .. Hot name SPCE continued to see interest .. HD, WORK & a few other names headed in the right direction saw some tack on flow as well.. PAYX a good looking name caught an opening bet .. Put sweepers were focused primarily in ETFs with players slapping on & replacing underwater protection ahead of the long weekend. Friday’s session likely didn’t bring any significant changes upon short-term sentiment, although some of the recent bull heat did cool down a bit the last couple days .. Update on the closely followed BULL/BEAR INDICATOR from BOFA remains above neutral but still not showing any bullish capitulation yet👇🏻
There’s really only one way to look at the current climate we have today & that’s through the eyes of liquidity .. With Central Banks already in the midst of doing their thing & now the PBOC of China firing not 1 but 2 bazookas at their economy & market cause of this virus issue, the market couldn’t give a rat’s ass about anything else.. That sure makes for a fantastic setup for buying weakness .. The ole “Fed put” scenario, now with China involved as well .. How the hell do we get weakness is a whole other question ,when it seems everybody has that same playbook .. And this will be our main topic & focus on Sunday’s webinar.. How do we approach a climate like this & what should we focus on that could possibly help block out some of the noise that can get in the way .. In the meantime, enjoy the weekend & a few sentiment posts up until 6pm EST Sunday .. BE THERE!