Monday
March 24, 2014
Happy Day!
Important News
Expiration
The Year of Selling Premium Has Started in POT
It ends in a grand finale with back-tests in Italy in September.
Maui ’14 People
The supplemental material is coming. We have NOT forgotten about it. I have been deluged with requests for items I feel are very valid for everyone (not just one person, with the exception of Maurad – lol) so I continue to add. I want this to be AWESOME. If one little extra nugget of wisdom helps save a huge amount of money or turns on the light bulb, it is worth it (in my opinion).
The Dow was down 28.28 at 16,302.
Another day of being up, and then selling off at the end of the day. Is this market running out of energy? The Dow was as high as 16,456.45, and closed 150- points lower.
AAPL closed up 4.17 at 532.87
The VIX closed up 0.48 at 15% even.
Closed up 1.16 at 108.23.
This move higher really doesn’t make sense considering the Fed tapered again and inflationary news was in the economic report, but that is fine. It does give POT people the ability to short it.
GLD Closed up 0.61 at 128.47
SLV Closed unchanged at 19.52
Tesla
Tesla was down 6.02 at 228.89
RSX (Market Vectors Russia)
Closed was up 0.22 at 22.31
Yesterday
The indexes were all up strong, with the exception of the NDX underperformed. The SPX had made a new inter-day high, and the Dow was only 130 points from an all new high. It had sat there for a while, neither making progress nor selling off. It was at this point that I elected (for a POT example) to illustrate the legging into a new put condor for protection. With the Dow up 100 we purchased a $15 wide put spread. When the Dow was down 7 we put in an order to sell out the put spread $15 further OTM.
Now that is a HEDGE! POT people….I am going to remove the $1,100 of risk, and then keep moving on to other positions like 1-5, etc. to get even more downside. If this market springs a leak I want to capture some profits (not just avoid losing), but I don’t want a lot of premium involved in the process.
Today
?
I still stand by my opinion (for the last 10 months) that we need one last “feeding frenzy” of buying to get the last schmuck into the markets before this thing falls like a rock, but Friday’s weakness off the highs has me confused. That said, I am backing off from trying to make any daily prediction today.
The lack of numbers being released will also make this market more susceptible to swings, without fear of missing more buying. Stated another way, if there are no numbers out giving traders a reason to purchase shares, we might not get any real follow through to the upside. In short…no new highs today.
POT is held each Wednesday night at 7:00pm eastern.
POT people….
Don’t forget that all the positions for POT are in OA, and you can get hold of them (if in POT) at anytime of day or night.
We are still naked long the RSX calls and then got long more (QQQ) today. Every 100 points to the old all-time highs I am getting longer. Hedges are in place, and more will be added near 16,500.
Contact the office at 1- 855 – RWT – 0008 for more details.
Too True To Be Funny
(Never a joke, but always funny)
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Wow, Mr. Maher has his job cut out for him. That will take extensive research, and interviews will have to be conducted in whore houses and bars. I want his job!
Attorney Stuff
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