Morning Update: June 25, 2014

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Random Walk’s Motto:

Success through integrity and care. The law of abundance means we can all win.

47 Days in a row where the market has not made a >1% move. Unsustainable.

Happy Day!

Yesterday and Today

Yesterday

I have to admit….I was surprised. I thought we would “touch” 17,000 before sellers came in, but they started to come in 30 points lower. The selling was slow and orderly, so it looks like there is no panic for the time being, and we will make another attempt at 17,000 in the near future.

Today

It all depends on GDP today. This thing has been revised so many times, and polished more than a rough diamond. Slowing economic growth has been attributed to “polar vortexes” as they could not be the fault a poor legislation stifling business. A slowing economy has been attributed to China dragging us down, but has nothing to do with high corporate and individual tax rates. The economy slowing has been attributed to many things and we have been told we should have a “peace dividend” now that the war in Iraq is over. Hmmm.. Could it be that $80 billion a month for what seems like 5 years, a total of $4 trillion, in QE was only the tourniquet to stop the bleeding?

I suspect it (QE) was just pumping all the blood being lost by the fiscal patient into the other arm, but without any fixes in Draconian business laws coming from DC (Grahm “Crakcer” Dodd, Dodd-Frank,, etc) combined with the unknowns about future tax regs, businesses wont invest. They get better earnings by trimming fat, but are they cutting into the meat?

Well, I thought that was going to be the lecture in the future; one I was going to make on why the market falls every day when the news is the same exact information as when the market was going up. And it still will be. So those last few sentences can be regarded as foreshadowing for the coming months.

In the meantime….

as I said above, yesterday took me a bit by surprise. I might have to readjust my opinion, though I doubt it. Those big numbers are what people have looked at since the beginning of time, and no one can change the human psyche. I suspect we will be at 17,000 by the end of the month for sure, and perhaps by the middle of next week. But I want to now pepper my opinions with a little caution after yesterday. Just a little pepper.

Today will make up my mind for the coming weeks. 

POT is held each Wednesday night at 7:00pm eastern.

TONIGHT

Thank goodness we hedged TSLA going into the open. The market in TSLA opened up $1 and then shot up to a net change of over +$4. This allowed us to get filled a few minutes after the open. Had the orders not been sitting in the pit from the night before I don’t know if I would have gotten the update out and been able to place the order in time.

But we cut the risk in half and now just have on two condors that have a large range of profit. We rode the stock $15, and I am done. Thank you. 

Contact the office at 1- 855 – RWT – 0008 for more details. 

Too True To Be Funny

Looks like people can’t play nice together. 

Three glued together. LOL Nice work.

I wish I could just use the “its just common sense why I wouldn’t pay 40% to the IRS, and I ignored the laws” excuse. Say what you want about Koskinen (idiot, hiding something, part of the scandal, stupid, etc.), he has balls. Who has the balls to be in front of Congress and attack right back and say he doesn’t know the law DESPITE it being his laws and being a lawyer? Genius.

Now this guy is FUNNY.

Attorney Stuff

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