Wednesday
September 16, 2015
1-855-RWT-0008
Yesterday and Today
Yesterday
The market opened unchanged and sat there hovering between positive and negative on the day. A half hour after the open business inventories came out and it looked like the market was not fond of the results, but it recovered from the initial drop.
Then within the hour bonds began to fall hard. It was almost as if a collective understanding came about where people felt the Fed was likely to raise rates on Thursday, but things would still be okay ā almost as if a rate hike was healthy.
What had been fear of a lousy Ā¼ point hike in rates seemed like a good idea now. Then from 11:00am to the end of the day there was an asset transfer going on with people pulling out of bonds and putting it in the stock market. But this makes sense, right?
If rates are going up you don’t want to be in bonds. And if you have money laying around, why not have it in stocks that are 10% off their highs this last month?
TODAY
I think the market got a little ahead of itself yesterday and was hoping / expecting more nervousness ahead of Thursday’s meeting. If we keep running up going into the meeting I will expect the buying to be overdone, and subsequent selling after the announcement.
But yesterday might have been one wave of bullish emotion and today a wave of concern replace it. This is a hard time to predict the markets, so I am reserving that for when it is a more accurate assumption.
OPTION TRADERS
Volatility got beaten down to 22 Ā½, but is still elevated way above the mean.
New Random Walker started today. I should have started it Friday but I was busy writing a FREE 21 page update/lesson for everyone that was sent on Saturday night. We have these free lessons in POT from time-to-time and now was a good time to do one for the year-end book. I hope it helps people understand that actively managing a position because the market is moving can be a benefit, where some look at it as a frustration or indication they were wrong.
The only problem I have with this write up is that we forgot to use others business model and charge $600 for it. Our bad. If you feel bad you can pack an envelope full of cash and mail it to me c/o Random Walk at out offices. LOL Have a great week.
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
My pick for best political cartoon this week goes to Michael Ramirez. He summed up how we gave Iran $180 bln to be our friends and they are already threatening us with war. They suck, but hopefully the next president has balls before Iran makes a nuke. Nice to see Kerry and Pelosi represented in the cartoon and in the front. Also I see they are talking to empty chair. That must be what Clint Eastwood was talking about at the RNC 3 years ago. Who’s that in the Where’s Waldo shirt? Reid is by the window.
Attorney Stuff
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