Over the weekend I posted that there was a good probability of the market going lower before finding a bottom. I’m still not sure if we hit a cycle bottom, but based on the quarterly index open interest and 20-day lows, the risk/reward for a bounce was too good to pass up. As a reminder here […]
I’m back. Thank you all for the support and congratulatory comments. Not such a nice welcome back from the market, but at least the big FOMC and Brexit is now done (well the vote not the aftermath). Some of you will recall that a couple months ago I continently said that it is rare for...
Hi everyone! Thank you all for the support and comments! The wedding turned out to be AMAZING. It was supposed to be on the beach, but that day there was a storm that came through and it had to be moved indoors, but it was with glass windows/doors and the ocean was still right behind...
Awesome week. The end wasn’t as great, but if you think about all the trades we took it proves two points. 1) Take some off the table when profits are there and 2) leave some on so that you can continue to profit if the stock isn’t done. Easier said than done sometimes, but as...
Recall that last week I described the scenario we saw for months when SPX hung around 2050 before finally breaking into a new range and mentioned that we could easily see something very similar around 2100. So far that seems to be the case and with two big events over the next two weeks (FOMC & Brexit)...
Last week here I took a spin on BTFD and termed BEFD (buy every f’n dip). Is there a difference? Probably not, but I was trying to emphasize that if the market dips, but stays above 2084, it will probably rip back up. That happened 4 our of 4 times last week. At this point […]
Once again we find ourselves at that 2100 level. Remember how long we stayed at the 2050 level. We could be headed into a similar period of chop around 2100 for a couple weeks until the June FOMC and Brexit is over; however, if that doesn’t end up happening then I think for now we...
My new framed term BEFD worked extremely well last week. We had some really nice plays despite Friday being a dud day. I’m a bit torn about the next couple of weeks in that it’s possible the rally has reached exhaustion and is ready to pullback to shake out some bulls. On the other hand...
More Downside to Come
I’m back. Thanks for all the congratulatory comments while I was away. This will be a short to the point. For much more relevant information take the premium plunge. If you recall a month or two ago I repeatedly wrote in my posts that the market never reached an oversold reading that is typical of […]
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