Wednesday March 5, 2014
RandomWalkTrading.com
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March 15.
Holy Cow, that is only 10 days away,
and it is almost already filled up.
The Dow closed up 227.85 points at 16,395.99
The largest up day of the year after Russia pulled most of its troops out of the Ukraine.
AAPL closed up 3.48 at 531.24
The VIX closed down 1.90 at 14.10
The TLT closed down 1.64 at 107.39
This thing finally got smacked after the run higher on a flight to safety from the previous day.
GLD = closed down $1.61 at $128.68
SLV = closed down $0.25 at $20.37
Tesla closed up 4.28 at 254.84
Yesterday
Imagine that we have the biggest up day of the year only because we are not at war, even though we did not sell off that much at the prospect of war. It was also the first day in a long time where we closed near the highs instead of selling off near the end of the day.
There was a brief moment of selling as is usual, and then more buying.
Today
This is going to get a little difficult to predict for the next few days. Now that the big scare over Russia is over what is left is little scares as the whole situation is not totally over. So one eye is going to start focusing back on the economy and the other eye is going to be distracted by occasional news reports of Russia.
Yesterday’s move to new highs was likely a little overdone considering the scare was only 150 points down. Yet when the market is only down 150 points on news like what occurred in Russia, it was clear that there was some strong buying going on anyway.
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.
There was no chance in selling premium at decent levels given the amount the market was moving. We are moving 200+ points a day and the VIX is on a 14. Fifteen percent is equivalent a 100 point a day range. Remember, the VIX is stupid and is priced differently when the market is down rather than up.
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