Tuesday
August 11, 2015
1-855-RWT-0008
Prepared by the good people at Random Walk, LLC. (and Scott)
Call the office for assistance!
Today’s Number(s)
Yesterday and Today
Yesterday
The market bounced from an oversold situation after the Dow had been down 7 days in a row. When it bounced yesterday morning it was evident that we were going to close on the highs as all the items traders watch reversed. Bonds fell hard, AAPL was up $4.20 (3.6%), and even BABA was up.
Much of this was because of the market being oversold and the market hitting the 200 day moving average, and the other half was China bouncing hard.
There were no economic numbers out which may have helped or hurt the buying. The SPX is now AGAIN at 2,100, but the Dow is still far off the 18,000 levels.
TODAY
If we don’t have follow through to the upside, or at least sit quietly without selling off, I will give up trying to figure this out. I am usually pretty good at picking market direction, but I have been cold for 3 months. Part of the ābeing off the gameā thing has been the fact that we are going nowhere. We are just sitting slightly under the all time highs but doing nothing. Think about it ā one day like yesterday and the SPX will be at all time highs.
OPTION TRADERS
Yesterday I wrote the following:
The VIX closed at 13.39 and could not climb despite the bearish tone last week.
This is likely an indication we will decline in the VIX by 1 point today if
we get a slow and steady run up.
The VIX closed down 1.16 at 12.23, and has almost no more room to the downside. Sure, we could fall one more point, but compared to the 40 points upside (from here) we have seen in the last 5 years, we are about as low as we get.
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
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Attorney Stuff
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