Wednesday
September 2, 2015
1-855-RWT-0008
Prepared by the good people at Random Walk, LLC. (and Scott)
Great Morning!
Closing Prices From Yesterday
Prepared by the good people at Random Walk, LLC. (and Scott)
Confused? Don’t know if you are protected in a crash?
Call the office for assistance!
Today’s Number(s)
Yesterday and Today
Yesterday
The market fell 470 points because of weak Japanese markets and oil. That is it. Well, also add to the mix that a few analysts were claiming the “bull market is over”.
Louise Yamada is one calling the end of the bull market. I doubt it, or to quote Mark Twain, “reports of the markets death have been greatly exaggerated”. Sure she might be right, but this is NOT how bull markets end. And if a bull market is at an end an analyst is typically the last person and 3000 Dow points behind the curve.
Stock with exposure to China were the hardest hit – mostly names like BABA and AAPL.
TODAY
I am not making any predictions other than to say a trend is developing. A couple days down and then a bounce back. We will see a bounce today in all likelihood. I really think most of yesterday’s sell off was due to three things:
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A healthy correction to a bull market that has not had one in a while.
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The Fed is going to raise rates soon (be it September or December), but either way they are not playing their “A” game.
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The first day of the historically worst month for stocks (Sept), especially after a lousy August.
But we will see.
DOWNSIDE:
If we do continue to fall the first support area is 1867 in the SPX, which is about 350 Dow points lower.
OPTION TRADERS
To high to buy unless you think the world is coming to an end and 500 point days are the norm.
We played the markets about as good as we could yesterday. After the open the markets bounced and the E-minis went from down -50 to down -30. They sat there and we did an example of buying a wide put spread. Then when the markets were down -50 again we sold put spreads. On the close we sold more put spreads and bought call spreads. We will see tomorrow if we are heroes or zeros.
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
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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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