Great Morning !
VEGAS: The February Vegas Class Itinerary.
Please note that I am working on slides, lessons and answers to people’s write in questions already. Because of market conditions the order of events may need to be adjusted at the last minute. In other words….to ensure the best class possible please assume the itinerary below is a guide that will change. If the markets are totally nuts I will discard the student’s questions and focus on the markets. That would actually be the best thing to happen. Then I will have a bonus session where I do an online session that answers the student questions that were submitted.
Friday Night Feb 20th, 2015
Yesterday
___ ___ ___ ___ ____
Closing Prices From Yesterday
Today’s Number(s)
Yesterday
A joke – plain and simple. The first week of the year concluded with its unbroken 100+ net change day (again), but in no direction. It was not known until after lunch on Friday if the markets were going to be up or down for the first week of the year.
I may sound redundant to some, yet others may think this is the first time I am stating this, but….
January Months Stink. They are Amateur Hour
For the first time in 6 months I am glad a week is over with, and I feel dumber for having lived through it. Just look at the graph below and it will tell the story. Up 70 points one moment, and then down 200 the next.
TODAY
WHO KNOWS?
I will be honest and say the following:
At the end of Thursday’s run higher I thought the stupid in January may have ran its course early. I was almost convinced the end of stupid came and went early like the Chicago cold snap of -40 wind-chills (coincidentally also -40 in C*). Friday took me by surprise, and now I have to think the January stupid is going to continue.
OIL
Last week we saw oil having a diminished impact on the markets along with some consolidation. Yet things could heat up again. Iran and Venezuela announced Sunday that they “Vow to neutralize the oil price problem”. Whatever. And I am going to go in my time capsule back to the 5th grade and take on all the 8th graders at once.
Venezuela is an OPEC country, but they are not going to stop selling oil when their people are are on the verge of riots because they can’t get toilet paper. They do spit out quite a bit of oil, though – a surprisingly large amount. We receive almost as much oil from Venezuela and Suadi Arabia. As a matter of fact the US imports almost as much from Venezuela as they do from Iraq and Kuwait – two places our military already went to ensure a steady flow.
I don’t know what these two country’s plans mean for the price of oil, but it is evident many exporting countries are getting real tire of sub-$50 oil when they were enjoying >$100 only 6 months ago.
If I were an oil trader I would be expecting/cautious of a giant jump in oil if other countries jump on the bandwagon.
What a CIA novel-type conspiracy theory this is when Iran’s Ayatollah said (regarding the oil drop):
“This can only be a political act… Our enemies use petrol as a political lever
and have certainly a role to play in the lowering of prices.“
I would have to chalk up a HUGE victory (so far) to the CIA if they are orchestrating this. It kicks Russia in the balls. It kicks Iran in the balls and ass. Anyone we have a problem with gets a turn in the barrel. And oil did start to fall coincidentally around the time Russia shot down MH17, the Malaysian airliner. See my chart below. Okay, maybe I am in denial and I am a conspiracy theorist.
ON WEDNESDAY: Choosing the right hedge to an existing vertical spread.
Contract the office at 1- 855 – RWT – 0008 for more details.
LOL ROFLMAO…..HE HE…
When is this guy going to take an economics class. This county can’t afford anything. We are on paper bankrupt. His allowance being cut by 10% has not really sunk in yet.
Attorney Stuff
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