As green as Kansas normally is, it’s shocking to see the yellow and brown fields throughout most of the west part of the state. The drought is bad here too, though not anything like it is in New Mexico right now. Water is the new oil. And water will someday be the new gold. Probably a few generations away from that still, but another Fukushima or so would make potable water around the world valuable sooner.
Speaking of green, how about that Ciena popping 15% plus this morning. The earnings report was much stronger than most of Wall Street was looking for and the guidance for next quarter is huge. The company talked about an uptick in demand from carriers and that’s exactly on cue for our portfolio as was Juniper’s own similar commentary earlier this week. I’m holding both stocks steady for now and will look to add to it on any future weakness in the stock price.
The rest of the market is down slightly today and fading as the day wears on. I’m going to sell a few more of my remaining VIX calls.
Don’t forget this week’s Live Q&A Chat at 2pm EST today. You can also send me an email to support@tradingwithcody.com if you can’t make the live chat.