Random Walk Trading.com
December 19, 2014
Prepared by the good people at Random Walk, LLC.
Santa Loaded His Sleigh Yesterday
Day 2 of the move
Almost Sold Out
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 !
No Numbers Today
Yesterday and Today
Here cAme Santa Claus,
Here cAme Santa Claus,
Right Past (Dow 17,750) Santa Claus Lane
OIL no longer matters, so it appears. Oil was down on Tuesday but we were up 288. Oil was down $2 yesterday and the Dow was up 421, or 2.5%. We are now ONLY 221 points from 18,000.
Why did the market move up 700 points in the last two days? Yellen’s speech dispelled fears (that was holding the market down) interest rates were going to rise in the immediate future. In the meantime, she also brought up how lower oil prices was keeping inflation in check. All of a sudden, at least for 2 days, low oil prices became an “ok thing”. Yes there was fear of falling oil, but if it keeps the Fed from raising rates, then “Maybe it is a good thing?”
A perfect example was today. We opened higher today and crude was up $1. As the day went on oil reversed and fell $2, but the markets were still flying higher. The markets closed on their highs, but oil closed on their lows. Two weeks ago oil being down $2 would have been accompanied by the Dow falling 200.
Last week I was pontificating that we would still have a Christmas rally and that we would be up to 18,000. I expected it to happen over the course of three weeks, NOT 3 days. The only note of caution I have is the manner in which the markets closed today.
Was the last 100 Dow points on the close today an early start to expiration this morning? Were professional traders so concerned about the velocity of the market move today that they didn’t want to wait until the open to buy their stock?
In other words, program traders may have to hedge their long synthetic stock positions when the current one expire on the open. They almost always wait until the open on Friday. Did they do it on the close yesterday instead of the open today?
If that was the case then we might have some pull back today. We will see.
Below is the schedule for the month.
Contract the office at 1- 855 – RWT – 0008 for more details.
Too True To Be Funny
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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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