A stochastic buy signal is historically negative for stocks.
A couple of uber-quick thoughts before Elmer unleashes his fury. First, I'm looking to buy some volatility (options) as the VIX is at the lower end of the range and the stochastics are giving a buy signal. Naturally, my eyes gravitated towards May puts but my goal is one of gamma.
Also, please know that I saw multiple seven figures for sale QQQ right on the bell yesterday (long stock) and I'm keeping an ear to the ground for continuation of that flow.
Finally, please take the time to read Brian's morning piece on MO. It's food for thought (pun intended).
Daily Recap Newsletter