Random Walk Trading.com
Tuesday
December 16, 2014
1-855-RWT-0008
Prepared by the good people at Random Walk, LLC.
This week’s POT = Jelly Roll and X-mas Rally.
Important vote on next year’s format and text book.
Fed Minutes on Tomorrow at 2pm
What is there not to love about 2 days of trading and QA, the Cirque, and a good clean wholesome environment to do it in?
Great Morning !
Closing Prices From Yesterday
Today’s Number(s)
Yesterday and Today
Yesterday
Oil blanketed another Dow party as the S&P opened +20 points higher, and then sold off to down -$14 after oil slid. Oil had started the day roughly unchanged (up or down 0.20), and just kept sliding slowly lower all day. At the end of the day oil was down over -$2 to close at 55.20 while the Dow closed down 100.
What is interested is that the oil sell-off is having less of an effect on the market that it has had previously (for the US markets). Yet the oil slide did cause a big drop in Germany’s markets (which does a lot of business with Russia) and Russia. The Russian markets were down 12% yesterday alone.
We rolled (in POT) out long calls down to the 14 strike, which is fortuitous as the Russian markets are up 4% in the after market. We will see how it opens.
TODAY
At midnight oil was climbing. Crude futures are up 0.43 and E-minis are up $6.25. This would indicate an opening in the Dow of about +65 points. Keep in mind that the after market products are likely a little cautious due to lack of liquidity, and they do not want to get ahead of themselves. If crude is up even the same 0.43 on the open I suspect at least 150 point move higher, for no other reason that the ratio (oil to Dow) they have been trading on to the upside.
Also keep in mind that the Fed meets today and tomorrow, and their minutes are released tomorrow at 2:00pm. This is always a very watching (if not the MOST watched market news).
POTĀ LAST NIGHT
Below is the schedule for the month.
Contract the office at 1- 855 ā RWT ā 0008 for more details.
It is a good thing we sold a ton of premium on Friday when adjusting the Billy Baroo. Recall that we not only sold a $20 put spread, but we also sold a $5 spread (to take our long $20 spread to a long $15 spread). We got long more deltas, but a tad early. When the Dow as down 210 is where a lot of this happened, and had I known we would have closed on the lows I would have waited until the end of the day. I just didn’t get the memo. Besides, this is about teaching people that perfect timing is not important ā no one has it.
Also, with all this selling we had this week, it is a good time to take a stab at Jelly Rolls again. Yeee Hawww! This week we will do a traditional one, not trying to get time value. We left a lot of money on the table with last month’s Jelly Roll, and the $35 mark up.
I was just in NYC for the weekend and met a few cops late at night. I have to say that I didn’t expect it, but these guys were the most gracious, polite and nice guys in the world. I did not get shot or put into a choke hold no matter what I did.
If you think your cops are hard-asses, go to Chicago. You had to be fired from the DMV for a bad attitude to get a job on the Chicago force. It was also good to see that the SOUP NAZI from Seinfeld was still in business and open late. I am banned for 3 weeks.
Too True To Be Funny
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Attorney Stuff
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