The three big market stress drivers I spoke about yesterday managed to calm the market a fair bit. Firstly, unfortunately the Ukrainian leaders had to throw in the towel in regards to their ambitions for joining the NATO (at least in the short term). This might lead to meaningful peace negotiations with Russia.
Second, the Fed finally raised the interest rates, however it was interesting to note that the market started to go down when the news came out. Perhaps the market was expecting a 50 point increase instead of 25.
Third, the Chinese government said that they provide financial stability, which caused significant jumps in the Chinese stocks. The below chart shows the insane 21% move of #FXI over the past few days. I wish I could have predicted this :)
FXI Daily Chart
Does this mean we can now go ahead and long (bet on upwards move) the market?
I wouldn't rush with it.
So what's my today's pick?
#CPB ( #CampbellSoup ). Most stocks went up today but CPB dropped 1.9%. This stock is relatively safe, which comes handy in risky markets so a $41 put sounds fine.