Friday
October 2, 2015
1-855-RWT-0008
Prepared by the good people at Random Walk, LLC. (and Scott)
Great Morning!
Closing Prices From Yesterday
Great Morning!
Closing Prices From Yesterday
Yesterday and Today
Yesterday and Today
Yesterday
Boredom and unmet expectation. Prior to the open the Eminis were up $18 points but hovered up only 6 points right before the morning bell. Once the market opened the Eminis fell and continued to fall until down (about) 17 points. Then they spent the rest of the day working their way back up with the SPX closing up a couple of points.
Noteworthy Items:
Apple fell after rumors started to circulate that they were cutting back on microchip purchases. These stupid rumors start all the time, usually by a guy who owns a lot of puts. The stock was as low as 107.31, but worked its way back up to close at 109.58.
TSLA took it hard today after releasing its new model “X” yesterday. Here come the bears talking about P/E valuations again. I think it is rubbish and TSLA will grow into its P/E. Look, this company can not keep up with the demand right now. They will be fine.
BONDS were marginally higher.
TODAY – Up by end of the day
China is quiet. Oil is stable. We will be going off of today’s numbers for direction, which is nice for a change. It looks like we might have hit a bottom that doesn’t have a “V” shaped bounce. I would actually love that as it makes it harder on the amateurs and analysts.
The market still feels heavy,but what is tough is that always reverses in a day.
OPTION TRADERS
POT CLASS TONIGHT at 7:00 pm Eastern
A separate update.
Didn’t do much yesterday other than get some long deltas.
POT is held each Wednesday night at 7:00pm eastern.
Contract the office at 1- 855 – RWT – 0008 for more details.
Too True To Be Funny
You can’t make this stuff up. We just cut a deal with Iran and gave them $180b to be our friend regardless if they sign the deal or not. Now they are helping Russia attack the individuals we support, not ISIS? I am not a military genius or political prince, but it sounds like someone in the Middle East needs a spanking, and someone HIGH UP in DC needs to be fired.
RECOMMENDED READING
Attorney Stuff
DISCLAIMER (Seriously!)
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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