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Prepared by the good people at Random Walk, LLC. (and Scott)

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Great Morning

Closing Prices From Yesterday

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Yesterday

Giggles…..

The market fell to SPX 125, the major support area I have been sweating. I had a LOT of things in POT set up for if we hit that number and went through it. Yet it was a double bottom that was not pierced.

We made new lows and new highs all in the same day with a Dow range of 17,006.91 to 16,663.26, or a range of 343.65 points for the day. The Fed announced that it had concerns about the rising dollar causing problems with the economy, and that was all that was needed for the markets to take it as a sign of no rate hike soon. Off to the races.

Meanwhile crude made a big low for the day as it cut through most of the support levels with the lst big one at 85.60 (left to be taken out). Keep an eye on that as it is a huge number, and some people are on CNBC calling for $60 a barrel oil. Good luck on that, but it is nice to think of.

Below is the chart of the double bottom we bounced off of today, and the nice “V” bottom.

TODAY

According to the technical analysts it is now safe to “get back into the water”. The new low and new high today means (according to them) that we saw the bottom. Ten (10%) percent corrections have to be renamed “3-4% corrections” I guess. And I don’t doubt them.

I do know one thing though, this increased volatility is scaring people. It is also a sign that the market is maturing. The steady up move every day was a sign money was going into the markets almost every day, and now it looks like said money is in, but shifting around looking for better returns from day to day.

TESLA

Tesla releases information on the “D”, whatever that is. Some are speculating it is an all wheel drive, others self-driving.

Pharmaceutical Companies

The Pharm companies really got hurt in some cases yesterday after anyone claiming they had an Hep B or Ebola vaccine got smashed after the first patient in the US with Ebola died.

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

Gamma scalping last night

A separate update coming

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This began last week.

Closed out of all positions on the close today after riding long deltas all the way down and all the way up. I will explain why in a separate update.

wtf

Too True To Be Funny

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Attorney Stuff

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