Wednesday
March 25, 2015
1-855-RWT-0008
Prepared by the good people at Random Walk, LLC. (and Scott)
Great Morning!
Closing Prices From Yesterday
Today’s Number(s)
Also at 6:30am the Chicago Fed Chairman will be speaking, but no one will be awake to hear it.
Yesterday and Today
Yesterday
The market started the day out unchanged and slowly climbed higher after home sales numbers were released at 10am. As the day wore on the market slowly declined and played with SPX 2100, deciding if it wanted to be above or below the number.
The Euro was down a little, but stable. Bonds were up a decent amount and stable. Oil was pretty stable as well, so there was no reason to pull back 105 Dow points based on the usual suspects scaring the markets.
The chart below (SPX) depicts the slow motion decline shaped like a lightening bolt.
TODAY
I will tell one thing…this market is underwhelming me. I don’t know what to make of it as this market doesn’t go down on bad news and doesn’t go up on good news. We are below the close on last Wednesday where the Fed announced and took away the jitters of a June rate hike.
I am getting less and less impressed with this bull, and I am concerned that what will happen when over the last two days this market has tired at the end of the day. It doesn’t feel like a correction is coming, and if it did it would be very soon since the last pullback.
Bonds will likely be heavy on the open after a late statement by some in the Fed saying that a rate hike in June is not bad. This reverses what people read into last week’s Fed statement.
Over the last few months some POT students have asked about how the big option block sales and purchases follow with the market. The thought that some one trader willing to buy 2000 or 3000 options must know something, we hopped on board (in AXP) to use this as a beta test example. When I see another one I will do another trade as well in order to get some diversification. We will then talk about this at a later time.
This week people have asked I do a session on how I blended 3 different trades into one call/put combined butterfly and another low risk bullish position. You got it.
POT is held each Wednesday night at 7:00pm eastern.
Contract the office at 1- 855 ā RWT ā 0008 for more details.
Too True To Be Funny
And they don’t even teach people how to make money with options. Go Figure.
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Attorney Stuff
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Trading is almost as much fun as black jack in Vegas, but without all the annoying distractions of free drinks, Broadway shows, gorgeous people with low morals, and free buffets. It also has about the same odds of success, so when you lose all your money you wont have to walk past a smiling pit boss. Even Bruce Wayne lost everything with options in The Dark Knight Rises, and Superman keeps his day job at the Daily Planet newspaper.
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