Tuesday, April 25

Today the NASDAQ composite index crossed the 6000 mark, fully 17 years after crossing 5000. Strong earnings reports from the financial sector drove a 1.1% rise in the Dow Jones, which left us behind for now. Expect the rise to continue into Thursday as the rest of the major players release 1Q2017 earnings.

Today the dollar and crude also dipped, yet these two forces cancelled each other out in the energy sector. New money flowing in outpaced dollars lost to weak oil, meaning that the oil sector rose on a drop in crude. Look for that to reverse tomorrow, it was unexpected today.

Our option derived position in Amazon is still on track to profitability, we see no factors to impact that outcome by the Friday close. Open interest hasn’t changed, so there shouldn’t be any strong increase in volume as we try to exit that position. Positions like that one may become a semi-regular event depending on the outcome of this trial.

Seadrill partners gained 2.05% in trading today, it seems they respond very strongly to a weak dollar. We’ll keep an eye on that correlation in the future – it may prove to be beneficial in determining target price.

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