Monday
February 16, 2015
1-855-RWT-0008
Prepared by the good people at Random Walk, LLC. (and Scott)
2 Days Until Las Vegas “Watch Me Trade and Ask Questions” Seminar
Great Morning!
Closing Prices From Yesterday
NO NUMBERS
Yesterday and Today
Yesterday
It was Friday the 13th, a day feared by many people as being almost haunted. Yet it truly is my lucky day. I have always had one of the best days of the year on a Friday the 13th,and this one ranked as great, but not perfect.
We hit a new high in the SPX as I had been pontificating we would do. I got lucky, and not attributing it to brains. I have a couple of friends that got SMOKED in a bad way with all the fears of Greece and the Ukraine Cease Fire BS. Oh well.
Recall the markets were down in the night session and I stated that I was stupid but didn’t care,I still throught we were going up. POT people almost got a surprise text saying I was buying some E-minis futures options at about 1am eastern. I decided against it as we already came in long a LOT of deltas anyway, and I didn’t give people a “heads up” I would be doing it.
TODAY
We are above 18,000. The SPX is at new highs. Even the Russian ETF (RSX) has made a great run up.
I KNOW that for the last couple of years I have been screaming about how this market is going higher. I am starting to sound like a bull market trader or a broker on CNBC announcing what stocks to buy (so he gets the commission).
The truth is I LOVE down markets/crashes and loath bull markets. I just have learned to trade both sides of the market as it the market does move in both directions. So I am still with my stance.
STANCE
This market is going higher. We had a tremendous run higher in the last 2 weeks – about 1,000 Dow points. Because of this run we are due for a small pullback, but I don’t think it will come for another 100 points.
But the pullback is still a buying opportunity.
THEN
In the next couple of months I expect to see STUPID runs higher. Where else can money go? Oil – no. Gold – no. Bonds – are you kidding me? Anyone buying bonds here will want to vomit them back out in the next year. Commodities – nope. Foreign markets?
I think Europe is going to be a screaming buy, and Japan, in the next few months (for long term holders), but right now they are out of favor.
Money is moving from everywhere to the US. Can you smell the strong Dollar? Money in America is only going into stocks (for the most part). Anywhere in Europe is scary with a shaky economy and falling Euro.
China
China was a good bet, but they are having problems. Remember when Japan was the number one economy in the world? That lasted 6 months and somehow they fell from grace. China will do the same.
That leaves the US (for now). Remember the US is not doing great, but our cooked numbers do appear to see job growth (all lower income and in Texas) and a stable,if not anemic, growth rate. Our housing prices are recovering, but not for the right reason.
This deluge of money going into the US markets will make its way into the US stock market, and squirt it up. Then once everyone is on board we will excrete all the un-hedged people. That is where I will have the most fun. But for now, clear sailing!
We rode the huge run up and are actually ahead of schedule/game-plan. I lightened (on the close Friday) up all the deltas to where we are only long about 100 SPX deltas. I missed the risk reversal trade, but will have another chance today.
POT is held each Wednesday night at 7:00pm eastern.
Contract the office at 1- 855 – RWT – 0008 for more details.
Too True To Be Funny
Attorney Stuff
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