Two Short Plays

We can retire the 1700 watch now -- well, until the next time the S&P 500 dips below it and starts to rally again. Even yields are breaking out, which I don't view as good for stocks in the long run, but it certainly is having no impact now. Higher rates will weigh on housing and eventually trickle to names like Zillow (Z) and Trulia (TRLA), but if I were looking short there, it would be via some longer-dated calendar put spreads. Not today, but maybe soon.

LinkedIn (LNKD) -- Daily Source: StockCharts.com View Chart » View in New Window » LinkedIn (LNKD) -- Weekly Source: StockCharts.com View Chart » View in New Window »

I will probably sit out LinkedIn (LNKD) tonight, but I thought I would post my weekly and daily charts. Options are pricing in a $20 move while I only see $10-$15. It has had a big run, but many names popped big last night and we don't often see multiple big name, big movers on back-to-back days. I expect them to beat estimates, but the reaction is anyone's guess....278 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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