Random Walk Trading.com
Thursday
March 12, 2015
1-855-RWT-0008
Prepared by the good people at Random Walk, LLC. (and Scott)
Great Morning!
Closing Prices From Yesterday
Today’s Number(s)
Yesterday
We closed down marginally despite the Euro falling yet another $0.015 to the USD. That is a big move non-currency traders. The EUR got down to close to $1.05 against the greenback in what looks like an almost guarantee of hitting parity.
Crude oil inventories came out forcing the futures down to close to $47 before bounce and closing about the $48 barrel level that traders seem more comfortable with.
Other than that the E-minis were in a $10 range which was really a tight market given the volatility we have been experiencing since last Friday.
TODAY
It was amazing how strong the market was despite closing down slightly. This market wants to run up but has a STRONG headwind of a dollar that is falling so fast it is disturbing people. If we got the same move over the last 90 days in a year’s time (instead), The Euro falling would probably be helping us climb higher, instead it is retarding its progress.
LL ā Lumber Liquidators is having a public meeting to address the whole formaldehyde issue that was reported last week by 60-Minutes. I am not sure what to make of this. It has been a LONG time since I trusted anything the media said. And since Brian āMr. Cleanā Williams has been caught lying more than a certain female politician with White House ambitions, I trust it even less. So there may be no truth to the story and the stock goes back (from $33) to $75. Or LL is the next asbestos lawsuit we see lawyers suing between episodes of Friends.
Euro/USD
POT has been riding the short side of the Euro since 115. When it got down to near 105 today we took about 1/3 of the trade off (which pays for the other positions). If we break 105 today we could see parity pretty fast (a couple of days). Even if you day trade E-minis you have to keep an eye on the Euro as it is a ball-and-chain on the market.
MARKET
This selling is a little overdone, just like it was overdone when oil falling from $90 to $45 was overdone. What happened next? Be bounced and made new highs in the SPX and Nasdaq.
FED
I am hoping for this nonsense to continue until the Fed meeting next Wednesday. It will likely be a ālay upā to get long. But I am nervous every day I am not long here, even though every day it is cheaper to buy this market. POT people ā I think I am loading up tomorrow.
POT is held each Wednesday night at 7:00pm eastern.
Last Night:
A long 3-hour class on E-mini options broken into two pieces.
We placed a E-mini BWB order.
This week:
A new Random Walker Spread will begin.
We will hedge off the Lumbar Liquidator position we entered into yesterday.
We will get ready for the Fed Meeting Next Wednesday.
Contract the office at 1- 855 ā RWT ā 0008 for more details.
Too True To Be Funny
If I got drunk, drove into the White House gates, and wrecked a government car I would have been shot. At the least I would be arrested and in jail a few years. The geniuses get reassigned with pay to a less stressful job. HYPOCRACY. That is what I hate about this world ā two sets of rules.
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Attorney Stuff
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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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