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Loving our students like family allows us the energy to go beyond any other firm and your expectations.
1 Day since the last 1% move.
First crack was Tuesday.
The second crack was Wednesday
Third bigger crack yesterday.
Look. I know it appears that the dam has broken. Still just leaking.
Today’s Number(s)
Yesterday and Today
Yesterday
Yesterday we had a double feature.
PART ONE
The first mini-disaster was the shooting down of a Malaysian civilian aircraft with 295 people on it. During trading hours it was uncertain if the pane was shot down or mechanical failure. After the close it was confirmed that America saw a missile make radar contact and it had a heat signature fixed. This was deliberate. Now we don’t know if it was Moe, Larry and Curly working a missile truck, or if it was directed by someone important – like Putin.
PART TWO
Netenyahu announced the start of the ground war in the Gaza. Though I am not a war monger it is refreshing to see a leader not get pushed around. So that is what Israel did, and in a controlled big way. When news of this hit the markets fell another 80 points. I don’t think the news was worthy of an 80 point drop, but it was the timing of it that exacerbated the sell-off.
Had it happened on the open probably nothing much would have come of it. Had it happened on a different day probably nothing would have come of it. But considering both events happened on the same day it hit people’s emotional circuit breakers. Combine that with a 4-star general having the balls to speak out against his boss (the President) blaming him directly for ISIS taking control of Iraq, and you have a president looking the stooge. Forget that he is again taking another vacation at Martha’s Vineyard, far from illegal immigrants hoping fences, makes him look out of touch.
The Dow closed down 161 points (-0.94%)
The SPX closed down 23.45 points (-1.18%)
The VIX closed up 3.54 points at 14.54
Today
Two important numbers are out today.
Most likely we had another small scare to get rid of the weak hands. Some people just bluff at poker. Yes there are leaks in the dam, but dams usually don’t crumble quickly. It takes a while for the leak to erode the foundation.
The one thing that could cause HUGE problems is if PUTIN was the one who gave the order to shoot down the plane in retaliation for the harder sanctions imposed on him the previous day. Of course he will deny it, but something like a missile is mathematically easy to track its trajectory. I am sure the US knows the exact latitude and longitude to the foot where the missile originated from. MY GUESS IS that Putin shot it down and will blame it on the Rebels. He is a sneaky little man.
If we have conclusive proof, or at least 85% of it, that Putin ordered the plan down things will kick up a notch. Baring that, we should see a few weak hands selling on the open and then back to normal next week.
POT is held each Wednesday night at 7:00pm eastern.
Wednesday we bought back the 1975-1970 put spread (SPX) for $0.80. Yesterday we sold out the lower strike spread (1970-1965) put spread at $2.10.
Read today’s update directed at you. I have a game plan outlined for making money in this.
Contact the office at 1- 855 – RWT – 0008 for more details.
Too True To Be Funny
Attorney Stuff
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