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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.

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Friday Night Feb 20th, 2015

Yesterday

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Closing Prices From Yesterday

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Today’s Number(s)

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Yesterday

At least January is consistent in its stupidity.

The E-minis opened up $6 higher and then fell to a net of down -$20. Oil opened down about $1.65 which was enough for the markets to shrug off; however, when oil fell to a net -$2.50ish the markets wanted to fall harder – and they did. The Dow closed down about 100 points with some equities taking a bigger hit than others.

OIL
Much of oil’s slide was a result of Goldman’s downgrade of the commodity. Goldman stated that they think oil is going down to $42 and staying in that general area for at least 6 months. Once I learned that Goldman can be caught lying by looking for when their lips are moving, I became a better trader. But they do move the markets on their upgrades and downgrades, so one can not stand in the road when they are coming. Get out of the way as they pass, and then take the opposite direction usually works. This means I suspect oil is getting near a low. Goldman is probably very short the product and wanting to buy it back without moving the markets, so they get people to sell to them.

TODAY

It is still January so I am not putting thing out on a limb. I would say that this market is holding up pretty well considering it is taking its cue from a free-falling commodity. We also saw yesterday reports that ISIS hacked into US military Twitter accounts (Central Command) to get addresses and phone numbers, and the market held up well. It was no coincidence that Obama spoke about increased internet security the same day.

We have a TON of negatives going on in the market, and yet we are still only 360 Dow points off Dow 18,000. That would normally tell me to get long, but it is January and I am not doing anything stupid until after the surprise.

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pot3

ON WEDNESDAY: Choosing the right hedge to an existing vertical spread.

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Contract the office at 1- 855 – RWT – 0008 for more details.

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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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