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The Heritage Club

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The Philly Fed is released with a reading of -8.8 (vs. exp. -10) and, as discussed, there were whispers (after the Empire Manufacturing relapse) that it was gonna be much worse. That triggered a wave of covering in the futures pit that triggered our initial S&P 886 stop level. As I watch the financials, however, I'm wanna nudge the stop (on the bear costume appendage) up to S&P 891. It's a negligible amount from a dollar standpoint but a fair latitude from a trading standpoint.

Also, please know that I've flattened my underlying QQQ (that was on vs. my QQQ puts) into the pop. I am no longer protected by the April 26 puts and, as such, I wanted to manicure that portion of my portfolio. My risk in the old school is defined and that's coolio by me.

Gotta hop.
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