Monday
October 12, 2015
1-855-RWT-0008
Prepared by the good people at Random Walk, LLC. (and Scott)
Great Morning!
Closing Prices From Yesterday
Yesterday and Today
Yesterday
It was an interesting day for people in POT who watched as I was long the 2010-2015 / 2020-2025 call condor. For everyone else in the market…..it was boring. The SPX had a 13 point range which was more in line with how the markets were moving when we had 7 months of historically low volatility. Recall that the VIX was on an 11% at the time.
Oil climbed back to 50, a level conducive to calming the markets. The TLT was back at 122, also a level that the markets find soothing.
The only things that stood out were AAPL climbed up 2.62 to 122. Remember it has earnings on the 27th and tends to climb going into earnings.
BABA climbed another $1.01 to get back to 68.71. This is a nice area considering just two weeks ago the stock was $11 lower at 57.2. This means the stock has bounced 20% from the lows, though it did fall 50% from the highs.
The airlines also climbed despite oil’s advance. UAL alone was up 3.45 (6.6%) to 55.71.
Most notable for Friday, as well as the whole week, was TSLA. This stock took a punch to the balls. Anal-ist after anal-ist downgraded this stock from Buy to Hold, or from Buy to Sell. Not only are they wrong, not only are they historically never right, but after another day or two of liquidation I am getting long for the November 4 earnings.
TODAY
We just came off of 6 days in a row of moves higher. The low to the high in those same 6 days was +128 SPX points and 1,060 Dow points. The last two days of the move higher were the least of the move. This indicates that some of the buying is drying up, at least for now.
I suspect we will get a modest decline today. Keep in mind it is Columbus day and the banks are closed. The bond market will be closed. Many traders will be extending their weekend a day with the assumption that nothing is going to happen today. If right they will have a nice weekend. If wrong and something happens that scares the markets, they will NOT be enjoying their vacation.
MAUI SEMINAR
January 20, 21, 22
Free Dinner Cruise Thursday January 21
For more information on affordable hotels contact the office or watch the VIDEO with the following link:
A big day for us.
We came in long 20 contracts of the 2010-2105 call spreads against short 10 of the 2020-2025 call spreads. Had I done nothing I would have been a hero as the cash closed at 2014.89 – $0.11 from perfection. But with the range on the SPX being 2007 to 2020 I didn’t want to take a chance of $6,000 evaporating to make an additional $4,000.
In the end we sold out longs out 20 times for an average price of 3.35. We bought our shorts (sold at $1.05) back for $0.35 making $700 on the sale. So we netted a credit of 8,400. This is great considering we had almost NOTHING in the trade to start.
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
How bad is the President at negotiations (or just doesn’t give a flying F)?
We just gave those assholes in Iran $150-$180 billion without getting back our 4 hostages being held there. And like Jimmy Carter, we did NOT get back one hostage.
Obama traded 5 terrorists for Bowe Bergdahl, but with a newspaper reporter, well he is going to be killed. I think Obama is a brilliant man, so that only leaves un-American motives for the decisions he makes.
Attorney Stuff
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