russellclark

Sony reported good results and boosted forecast, and the stock spiked and then sold off, to end flat. I am always cautious when good results are not rewarded by the market - its means that there is something else to look at. With gaming stocks, I think it is the cost pressure of memory chip price spike. We will see.

Its tempting to cover shorts - but I think sometimes you want to capture beta with your short book. I would hold shorts here until the VIX curve hits 5 at least. Vix curve is spot VIX - 8 mth VIX future.