Wheeeeee – down we go! We couldn't be happier, of course – as we were feeling a little silly having cashed out with the market making new highs on us. Still, we stuck to our Fundamental guns and now we are outperforming the market by a mile this year and, even better, we have some exciting opportunities to use our sideline cash to do a little shopping – but not yet . There's no hurry. Those XRT May $84 puts I mentioned in yesterday's post that went from 0.85 last Thursday to $1.42 yesterday morning hit $2.35 into yesterday's close. That's up another 65% in a day and that's money that's compounding for us on the way down, up 176% in 3 days now. This is what we do with our sideline cash – so it's not like we sit around twiddling our thumbs… I sent out an Alert to our Members yesterday to sell the T July $35 calls for $1.10 to cover a long position we have on T. Pre-market they are down 1% and those short calls are up 10% on day one already – but there's 100 more days to go. Again, this is what we can do with our sideline cash. We also shorted JPM in an earnings spread – that trade is here from our Live Daily Chat Room . We had lots of fun in our Futures trading, flip-flopping our bets for the bounces and catching nice moves in both directions – but mostly down. We even made some quick money with long plays on the Momo stocks – also playing for bounces. IN PROGRESS
Wheeeeee – down we go!
We couldn't be happier, of course – as we were feeling a little silly having cashed out with the market making new highs on us. Still, we stuck to our Fundamental guns and now we are outperforming the market by a mile this year and, even better, we have some exciting opportunities to use our sideline cash to do a little shopping – but not yet.
There's no hurry. Those XRT May $84 puts I mentioned in yesterday's post that went from 0.85 last Thursday to $1.42 yesterday morning hit $2.35 into yesterday's close. That's up another 65% in a day and that's money that's compounding for us on the way down, up 176% in 3 days now. This is what we do with our sideline cash – so it's not like we sit around twiddling our thumbs…
I sent out an Alert to our Members yesterday to sell the T July $35 calls for $1.10 to cover a long position we have on T. Pre-market they are down 1% and those short calls are up 10% on day one already – but there's 100 more days to go. Again, this is what we can do with our sideline cash. We also shorted JPM in an earnings spread – that trade is here from our Live Daily Chat Room.
We had lots of fun in our Futures trading, flip-flopping our bets for the bounces and catching nice moves in both directions – but mostly down. We even made some quick money with long plays on the Momo stocks – also playing for bounces.
IN PROGRESS
