Opinions
David Burrows
SPDR S&P 500 ETF
SPY-N
BUY
Sep 21, 2017
Stock price when the opinion was issued
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He did a put spread on May 2, the 500-520 end of July put spread. He wasn't concerned about NVDA or tech, but to the market's reaction broadly to Nividia's earnings. Rally broadening in the S&P had not happened. You're limiting your downside with a spread. He bought back the 500 put, which leads him long only the 599 outs.
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It is the one decision way to get exposure to the S&500. The recent weakness in the US dollar doesn’t hurt. You will do just fine with it. We are in a market that is benefiting some sectors more than others so he would like a more targeted exposure. Financials, industrials – a basket of 3 or 4 of them.