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
Earnings Today
Below is a list of some of the bigger earnings announcements today
Today’s Number(s)
Yesterday
Nothing…
The market attempted to stage a come back towards 1904 (200 day moving average in the SPX) before a late day sell-off came back in. This has been the model for the last 3 – 4 days and it squashed down a 100+ Dow gain to negative territory.
Crude Oil fell almost $4 after inventory numbers came out. In addition Saudi Arabia decided it was going to sell oil in the market place competitively instead of running to OPEC to attempt price fixing. This has been a major drop in price, but even at 82.prices are high. Remember that the average price of gas when Bush left office was $2.52. The only thing surprising is that all the turmoil in the Middle East is concerning the stock market but not the oil market.
The US dollar was strong against other major currencies again after taking a short break. We are still below the SPX 200 Day moving average and the channel for the last 3 years.
TODAY
Today is the first day of the week with economic numbers out. The E-minis at 8:00pm are poised for $7 higher and Dow futures 62 points higher. INTEL had earnings after the close and they barely beat. The news is mixed on if this is good or bad based on who you as (as demonstrated by headlines below). But it is enough to show signs of optimism for the markets after the tech sector got beaten down so bad last week.
There is certainly a bearish trend going on, and the fact that yesterday’s bounce could not sustain itself is not positive. Yet we did not have any economic numbers or positive news to fuel the rally. We will see what is in store for the markets after bank earnings come out today, and the economic numbers hit.
It doesn’t matter what the numbers are (good or bad), but the numbers will be the catalyst for the move that is coming. Despite the markets being up $7.50 in the E-minis I think that will come back down. People are scared. But when super scared, then I am getting long.
POT is held each Wednesday night at 7:00pm eastern.
Contact the office at 1- 855 – RWT – 0008 for more details.
POT TONIGHT – I was going to move onto the next item you voted on for class, but these markets and the complex position need attention.
So tonight’s class is about the markets and positions.
Below are the markets for the last 2 weeks.
This began last week.
Did a couple little things with an unbalanced condor for a credit and a BWB for a small credit. Depending on today’s actions we will sell MEAT.
Too True To Be Funny
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Good for him. I have nothing against Muslims. I do have something against forcing someone to attend any service against his will.
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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