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Prepared by the good people at Random Walk, LLC.
Historically September is the ONLY month (since 1950) that is down for the year (on average). People are so afraid of October crashes that they sell in September. This creates a high volatility environment. Yehaw!
Great Morning
Closing Prices From Yesterday
Today’s Number(s)
Yesterday and Today
Yesterday
The Dow closed within 21 points of 17,000. The SPX closed 1,986.51. The previous high was 1.68 points higher on July 24th.
The Fed released its minutes from the last meeting and it barely affected the market. The markets did have some moderate gains going into the report, puled back for a few minutes and then went right back up. The Fed essentially said that rates could rise sooner than expected since inflation is right where they want it, jobs are improving and QE is ending on pave (October). That tone, what the media calls “hawkish” was enough to watch the market go slightly negative before it bounced right back.
All in all…a very quiet day considering the SPX went from <1909 to 1986 in 9 days.
TODAY
We have numbers out today that are rather significant. And given how we are a smidgeon away from all time highs in the SPX I would NORMALLY say “new highs today”. The only thing that I am hesitant about is the long string of continuous up days without a pullback.
The one bright spot is that we are getting people coming out of the woodwork starting to make some outlandish claims such as Dow 19,000 by next year. Another individual stated that stocks are not going higher because of a bubble, rather it is “asset price inflation”. I am not sure what that really means, and how it is different than a bubble. Is it a bubble that doesn’t have to pop because the word “asset” is included?
As much as the market was slightly surprised yesterday by the tone of the Fed minutes, analysts immediately started to paint the “good cop – bad cop picture” claiming Yellen will be more careful and controlled in her statements on Friday at the economic pow-wow. The run up in the markets after a brief drop certainly would indicate that the markets agreed. So tomorrow better be Yellen’s best speech yet or we could have some mayhem.
POT is held each Wednesday night at 7:00pm eastern.
Contract the office at 1- 855 – RWT – 0008 for more details.
Class is closed…..Still a couple of seats left for the ONLINE CLASS from home.
Attorney Stuff
DISCLAIMER (Seriously!)
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 DailyPlanet newspaper.
We have the utmost respect for our attorneys who tell us any attempt to trade is throwing money out the window, and investing is risky business (still a great movie). Past performance doesn’t mean a thing. The future is even scarier. Random Walk and everyone associated with it promises absolutely nothing. We guarantee nothing. We wont ever do anything right unless it is an accident.
Random Walk only provides education (and a great cup of Starbucks if you visit our office). If you want advice please consult an attorney, licensed broker, Joe Kearnan, tax consultant, investment adviser, etc. Random Walk, LLC is full of morons, dolts, has-been(s), chromosome damaged individuals, thieves, losers, and carnival barkers. Any attempt to find a semblance of intelligence or integrity in Random Walk would be a waste of time. We will sell products, but advise against buying them. We Do Not Give Advice.
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Our products are written ONLY by floor traders, fund managers and retired floor traders. But that really doesn’t mean much. They are expensive and unique. That does NOT mean they (materials) come on a tablet of concrete from Mt. Sinai. . If you are still reading this, you will likely be the first to have gotten this far. No guarantee for accuracy is made. Nothing we do is audited and we make no promise of accuracy.
Because of the proprietary nature of our materials and the ease of electronic copying, all sales are final. There are far too many people who have no problem stealing our materials and putting them on torrents or copying them. These are the same low-life, selfish, whining, half-wit hypocrites that would cry like a newborn with a wet diaper if someone stole their car radio. They have to pay for our materials before stealing them, and live with their karma (and our legal team). Yes, we have caught a few and now have one person working on detective work solely.
Sales are far from our largest concern. If you are a whiner, complainer, or generally unhappy with life please go to someone else in this industry who values money over happiness. We can point you in the direction of other firms that only care about the bottom and top line. Jerry Springer can also point you in the right direction. Besides whiners are a total distraction from the awesome group of students we are fortunate to have. We are truly blessed and thank them (provided that is fine with our lawyers). “Thank yous” are only handed out in countries where legal and void where prohibited. If your country does not allow “thank yous” please refrain from accepting it. This disclaimer is copyright material and not a joke.
