Thursday
Aug 28, 2015
1-855-RWT-0008
Prepared by the good people at Random Walk, LLC. (and Scott)
Great Morning!
Closing Prices From Yesterday
Confused? Don’t know if you are protected in a crash?
Call the office for assistance!
Today’s Number(s)
Yesterday and Today
Yesterday
Yesterday was a microcosm of the last two weeks. We opened up two hundred points, and then climbed steadily to a net positive of almost 400.. Then out of NOWHERE at 2 pm, and for no real reason, the market sold off to almost unchanged. A few moments later the market began a bounce to close at the highs.
Now doesn’t that bed-tie story sound just like the markets as a whole since last Wednesday? We climbed up, fell after the Fed, and then on Tuesday we began a steady climb back. In the last two days we saw the Dow climb over 1,000 points.
BONDS were unchanged.
Oil was up HUGE, closing above 42.
TSLA was up 18.15 after their new āSā model was rated by consumer reports at 103, which is an accomplishment since the rating only goes to 100. I will say it again. Elon Musk is this generation’s Thomas Edison, and 20 times brighter than Steve Jobs. He has loftier goals than making iPads, and will change the world ā whereas Steve just made it a little more entertaining.
TODAY
Anyone that knows where this is going in the next five minutes is smarter than I. Much of it depends on the price of oil stabilizing and China. Next week the markets will get some other stone in its shoe.
OPTION TRADERS
Volatility closed down 4.22 points at 26.10. Normally we would be a lot lower, and we will be. Hint?
Fun day!
Yesterday we took a trip on the bull.
We bought a call spread $10 wide and sold a put spread $5 wide when the E-minis were up 20. When the Eminis moved up 3-4 strikes we sold a $5 call spread (further OTM that then one bought) and used the funds to buy a put spread that protects the original short put spread
In the end we have on a long Iron Condor with an extra long $5 call spread for a small debit. We will massage this from here. In a market move higher I will sell another call spread and use that to buy a put spread. That will give me a spar put spread without having call side risk. If we fall, it is pay day. If not, I don;;t lose anything, but have a condor on that can make money. How cool is life?
The position is as follows below:
POT is held each Wednesday night at 7:00pm eastern.
Contract the office at 1- 855 ā RWT ā 0008 for more details.
Too True To Be Funny
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Attorney Stuff
DISCLAIMER (Seriously!)
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 Daily Planet newspaper.
We have the utmost respect for our attorneys who tell us any attempt to trade is throwing money out the window, and investing is risky business (still a great movie). Past performance doesnāt mean a thing. The future is even scarier. Random Walk and everyone associated with it promises absolutely nothing. We guarantee nothing. We wont ever do anything right unless it is an accident.
Random Walk only provides education (and a great cup of Starbucks if you visit our office). If you want advice please consult an attorney, licensed broker, Joe Kearnan, tax consultant, investment adviser, etc. Random Walk, LLC is full of morons, dolts, has-been(s), chromosome damaged individuals, thieves, losers, and carnival barkers. Any attempt to find a semblance of intelligence or integrity in Random Walk would be a waste of time. We will sell products, but advise against buying them. We Do Not Give Advice.
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