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
A LOT OF BANKS REPORT TODAY
Today’s Number(s)
Yesterday
A WILD RIDE. The Dow opened down 362 points on what appeared to be forced liquidation. As that was going on the TLT opened up $5.80 in what also looking like forced liquidation. Immediately after the open the Dow climbed from the gutter to a negative -108 points (or up 254) within 30 minutes.
After that the CDC decided to hold a press conference to prove what people feared- they are clueless. Immediately after they finished pulling the Ole Sgt. Schultz the Dow fell 150 points and was down 459 points.
After sitting at the lows and the Dow falling below 16,000 the sellers dried up and the market staged a walk back up the stairs. With the Dow down 155 at the end of the day the market backed off a little to close down 173 points.
After cash closed NFLX dumped a bomb on the markets with poor earnings causing the stock to fall 26% in after hours trading. The E-minis followed falling $10 points in the 4:00 to 4:15pm eastern time period. Obviously the cash and Dow stocks were closed so they didn’t fall, but would have fallen 70 points on the news. The Nasdaq fell1% on that news.
So if E-minis are unchanged the Dow will be down about 70 points to catch up. Please adjust accordingly in your head when you see the Dow under or out perform the market.
TODAY
I am starting to get close to thinking the worst is over. The Dow did NOT like being down below 16,000, and the TLT move was what I would bet big money on being a short squeeze and/or forced liquidation. Crude didn’t like be at $80 and bounced.
We have a lot of bank stocks out with earnings today before the open. If there are no negative surprises I think we can shrug off the NFLX disappointment. We will see.
Positives –
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Octobers are usually up months, even when they start out down.
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Earnings are coming out and there are not a lot of big negatives, other than NFLX.
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People are exiting European investments and have to put the money somewhere.
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People were looking for a drop that has never come. Well, it came. And with bonds yielding never ending low yields who would want to be in a 30 year for 3% or a 10 year for 1.98%?
Negatives
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Russia is barking again and making threats.
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People are shaken up and we didn’t hit any really crappy hard bottom. Yes 450 down was big, but that is really only a 3% drop. We had 500 down days many times.
POT is held each Wednesday night at 7:00pm eastern.
Contact the office at 1- 855 – RWT – 0008 for more details.
So tonight’s class was about the markets and positions.
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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I have to laugh. I wish it were “several thousand”.
XXXX
We should unload our prisons on them. Combine their bikers and our murders, and that would be a fight worth televising.
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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