1-855-RWT-0008
Prepared by the good people at Random Walk, LLC. (and Scott)
ISIS, EBOLA, OCTOBER FEARS, AND ELECTIONS
Great Morning
Closing Prices From Yesterday
If anyone is watching the markets more than we are, it is politicians. They have NOTHING going for them other than the Dow as at record highs. If this market keeps falling it will hurt every incumbent – both republican and democrat.
NO NUMBERS
Yesterday
Kaboom Part V
Another down day. This time the media was again fishing for reasons and they came up with……ta da…..”EBOLA”. First they are telling us it is nothing to worry about and it is as hard to get it as getting AIDS, and then they make it sound like it is going to be the Black Plague.
The truth is….We closed 2 points above the 1904 SPX 200 day moving average. We vacillated around it all day with traders giving the markets every chance in the world to run higher. When it could not bounce people threw in the towel and sold everything off in the last 45 minutes.
It was NOT because of Ebola, ISIS, the elections, flying saucers on Mars, Yellen, the Fed, China, Russia or the dengue fever.
Below is the 3-year chart I have been showing everyone in POT for the last year+. We broke through the 3-year trend line that took this market to stratospheric levels and a pullback was due. It is normal and even healthy.
TODAY
Listen to the sound of confusion……..
Who knows what is going to happen today. We are oversold in the short run, but could lose another 4% over the short run before we have washed out all the people who are long the market but don’t have the brains or stomach to be in it. I would say that a bounce is needed to scare everyone or all the bears (me included) will have too much fun in the downdraft. The market’s job is to make itself as confusing as possible, and if we keep falling without an up day then the market is not doing its job.
As a matter of fact I tried to sell put spreads on the close in POT but was not filled. I would love to see us open 200-300 points lower. Then you will hear the sound of laughter. But this probably wont happen and I will be doing LIQUID (Random Walk text on adjusting winning and losing trades) adjustments to wiggle out of things.
Why would may actually be at a bottom?
POT is held each Wednesday night at 7:00pm eastern.
Contact the office at 1- 855 – RWT – 0008 for more details.
This began last week.
I was going to sell more premium today, but I wanted to wait until the close when volatility was at its highest. That is how things work in this particular market. I got tied up talking to a doctor on the close, so I will sell tomorrow. Pray for a big down day. I have not sold 25% volatility in a LONG< LONG TIME> (evil laugh).
Too True To Be Funny
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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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