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Closing Prices From Yesterday

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IMPORTANT Events and Facts.

Mario Draghi is speaking today at 8:30am eastern about bond buying for the ECB.

Canada lowered its interest rates yesterday.

The markets have had a range of at least 200 points every day this year.

The markets have not had this much volatility since 2011.

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Yesterday

Psychotic on a mini scale. The markets opened down over 100 points, and within minutes they were up on the day. We then ran up 70ish points only to fall into the red once again. The chart below shows the nuttiness of just the first 18 minutes.

 

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AMZN

In the meantime AMZN had rumors that Ichan was buying the stock in order to force the company to see his vision. The stock ran up $15+ until the rumors were shown to be fake, then the stock sank $10.

OIL

Oil was up $1.65, backed off to be up only $0.70, and then ran up again.

NFLX earnings came out better than expected with huge growth into the future and the stock closed up 17% ($60.48) to close above $400.

TODAY

I am NOT going to say anything too aggressive.

The market sell-offs never seem to amount to anything, and they always feel like they have huge buyers underneath. Today everything was a green light to run higher and the market could not run up.

FINANCIAL stocks are taking a hit everywhere. Oil seems to be settling in to a grove. Russia is rattling its saber again, this time cutting military deals with our fores (Iran and China). Canada cut its interest rates become of lower oil prices. And most importantly Mario Draghi is speaking today at 8:30am eastern about bond buying for the ECB.

I “think” (but have had a poor track record this year) with very little conviction that the markets are going to run up big. Why? So much stress and gloom is overshadowing things as we wait from Draghi’s speech that once it is out (no matter how bad it is) it will be a relief. This guy is a putz.

pot3

POT is held each Wednesday night at 7:00pm eastern.

POT CLASS LAST NIGHT

SCHEDULE

  • More on hedging a long vertical spread (going for or against you)

– Using the E-mini options as a hedge against the SPX and/OR a portfolio of stocks to enable a trader to be able to hedge 23.5 hours a day.

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Contract the office at 1- 855 – RWT – 0008 for more details.Screen Shot 2014-11-28 at 8.39.15 AM

Vice President Joe “Tourettes” Biden made it official yesterday that he is considering running for President. I guess he likes the bigger plane and house. To quote him, “that is a big F#&@?ng Deal!” I kind of like him, but I can’t help seeing him more as a headmaster of a prep-school.

People will not have enough popcorn for this next election. I can’t wait.

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Attorney Stuff

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