Random Walk Trading.com
Great Morning !
Closing Prices From Yesterday
Today’s Number(s)
Yesterday and Today
Yesterday
A very interestingly fun day yesterday was. For two weeks I have been warning to not take the Christmas rally for granted as we usually have one decent sell-off before the move higher. Monday and yesterday added together was shaping up to be just that sell-off. The Dow opened at 17,629.57 which is about 380 points lower that we were last week.
How bad did it look yesterday?
Venezuela’s bond market was a mess with rates going above 21% on the 20 year bond. The 20 year bond has to close at $100 (if thee is not a default), and it was trading at $21.
Athens Greece ā There stock market fell 12.8% yesterday alone. This was the largest drop since the US stock market crashed in 1987.
Russia ā The Russian Vector Market Index (RSX) is down 40% this year.
China ā The Chinese markets were down 5.8%
The range in some of the stocks we watch in POT were huge as well. Below are said numbers (notice the highlighted areas):
TODAY
It looks as if we had our sell-off for December. POT students have been hearing for weeks the historical background of Decembers. With all of the bad news out there it is amazing that the Dow closed down only 50 and the E-minis were down only a couple points. So long as overseas markets don’t die, oil doesn’t fall below $60-$61, and the media stays ignorant about meaningless things the market likely saw its bottom. I suspect we are still on course for 18,000.
POT TONIGHT
Below is the schedule for the month.
We did a great job legging and rolling yesterday. Below is a time graph of the SPX put spread leg. We sold an ITM put spread (Dec2 exp) near the bottom, and held off until almost the close to buy a Dec5 put spread. This gives the option of turning this into a Billy Baroo or BLACK OPS hedge.
Contract the office at 1- 855 ā RWT ā 0008 for more details.
Too True To Be Funny
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Not if Dianne Feinstein is involved.
Attorney Stuff
DISCLAIMER (Seriously!) All data above is provided for informational purposes only. Random Walk makes no guarantee as to the accuracy of the data.
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.
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