Tuesday
October 13, 2015
1-855-RWT-0008
Prepared by the good people at Random Walk, LLC. (and Scott)
Great Morning!
Closing Prices From Yesterday
Yesterday and Today
Yesterday
It was a quiet day and it shows in the VIX levels falling another 0.91 to close at about 16%. A VIX reading at this level is probably more in line with what is going on right now. I am impressed that traders didn’t beat on the VIX just because it was a holiday. Typically the traders would beat the VIX down hard just because there is one day of quiet trading. Tomorrow things start up again, and earnings season is starting.
Stand Outs:
Oil had a volatile day but closed down to 47.52. Bonds were up for no apparent reason.
The Market had it’s 6th or 7th straight day up. TSLA was down another 5.11, but I am sure it is nearing a bottom. BABA closed above 70 for the first time since hitting 57.20 on September 29th.
TODAY
What is keeping this market moving higher?
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China has stabilized and perhaps moving higher.
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Oil has stabilized in a Goldilocks area.
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The sell off of 11% in the markets, 15% in the Nasdaq, 25% in the biotech was stupid. It was normal correction, but since we had not had one in so many years people over panicked. Now people are realizing this and getting back in.
That said, I would be shocked if we had an up date again. Trees don’t grow to the sky. Yes I am bullish, but I think the big moves are over with. We should be going back to 2 steps forward, 1 step back.
MAUI SEMINAR
January 20, 21, 22
Free Dinner Cruise Thursday January 21
For more information on affordable hotels contact the office or watch the VIDEO with the following link:
A big day for us.
We came in long 20 contracts of the 2010-2105 call spreads against short 10 of the 2020-2025 call spreads. Had I done nothing I would have been a hero as the cash closed at 2014.89 – $0.11 from perfection. But with the range on the SPX being 2007 to 2020 I didn’t want to take a chance of $6,000 evaporating to make an additional $4,000.
In the end we sold out longs out 20 times for an average price of 3.35. We bought our shorts (sold at $1.05) back for $0.35 making $700 on the sale. So we netted a credit of 8,400. This is great considering we had almost NOTHING in the trade to start.
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
Something is seriously wrong with America when Putin has a higher approval rating than our president. We let out allies down so much by cutting deals and giving money to terrorists that Iraqis are idolizing Putin. Sad day.
At least Jimmy Carter would have given the starving kids in America a little money when he gives Iran $150 bln.
Attorney Stuff
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