Morning Update: February 28, 2014

RandomWalkTrading.com

1–(855)–RWT-0008

Friday February 28, 2014

Condors, Iron Condors, Iron Cockroaches and Unbalanced Condors all included!

The Dow closed up 74.24 at 16,272.65

Barely, but just barely, the markets broke above their resistance areas of Dow 16,250 and SPX 1,850.

AAPL closed up 10.32 at 527.67

This was the first up day in at least 5 sessions. 

The VIX closed down modestly at 14.04

The TLT closed up 0.59 at 108.51

GLD = closed up 0.09 at 128.20

SLV = closed up 0.04 at 20.46

Tesla closed down 0.46 at 252.54.

The stock had opened very strong and was as high as $262 before giving it all back. 

Yesterday

The markets sat patiently waiting for Yellen to stop speaking. The Dow was down about 40 points and up 30 points – back and forth. It was not until no surprises came that the markets had no where else to go but up. The buying was lackluster and the markets barely closed above the resistance areas. One would expect a lot stronger of buying once the resistance area (we have been pulling back from for 2 weeks) was pierced.

Today

If the rally is real it should continue through today. 

New POT people. Keep in mind that new people are always lost for a while. You are coming to a movie that has been going on for a while, so it will take a few days to catch up to the plot and characters. 

Too True To Be Funny

(Never a joke, but always funny)

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 DailyPlanet newspaper.

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