Wednesday
June 26, 2015
1-855-RWT-0008
Prepared by the good people at Random Walk, LLC. (and Scott)
Closing Prices From Yesterday
Closing Prices From Yesterday
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Today’s Number(s)
Yesterday
A quiet to mildly bullish day until fears of portfolio re-balancing weighed on the markets. It turns out there are some funds up money who are going to take profits in winners and buy more losers tomorrow, and that will add a little to the market’s volatility. Because people know it is coming they sold stocks yesterday to avoid the rush. That combined with no word on Greece got people scared.
Despite the down 75 point day in the Dow TSLA managed to rack up a 3.62 gain. NFLX took more of a hit again. It was above 700 Wednesday but closed at 664.24 yesterday.
TODAY
Though Michigan’s GDP is larger than that of Greece, people are going to ignore Michigan sentiment numbers for overdue word on the Greek deal (if word is not out by the open already). In addition we sold off yesterday when it was announced that a good deal of stock is going to be sold today because of portfolio re-balancing done by some big funds who made too much money this year. Me….I don’t buy it. We are down for the month of June and almost unchanged for the year. Unless the companies are simply selling out NFLX stock not too many stock pickers are picking the winners. It is all about Greece ā God help us with that stupid event that in hindsight will be nothing.
OPTION TRADERS
Finally the VIX is getting back to a respectable number, though still low. The VIX closed at 12.01 (+0.75).
We bought a $10 call spread near the close in anticipation of a possible deal being done with Greece prior to the open. Keep in mind that Greece is 6 hour ahead of the US, so by 9:30am eastern it is 3:30pm in Europe (CET).
If no news is out and the market is up a little, I am going to spread it off real quick on the open to avoid the huge time decay Friday poses.
Contract the office at 1- 855 ā RWT ā 0008 for more details.
Too True To Be Funny
I think the only shock people have is that it is only 15 emails missing.
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Attorney Stuff
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