And up we go again!
Fortunately, as PSW, we are able to calmly view the action with bemused detachment because we are in CASH!!! and don't give a damn what the market does from day to day.
Meanwhile, there are pleny of oppotunities to make money off the up and down action, like the call I made yesterday, right in the morning post, to short the S&P Futures at 2,105, which paid $1,150 per contract at 2,082 by 3:30 – not bad for a day's work.
For the non-Futures players, we also mentioned the FXI June $50 puts, which opened at $1.45 and finished the day at $1.82 – up 25% for the day!
Oil only fell from $60.45 to $60.20 at first ($250 per contract) but, in our Live Trading Webinar, we caught a great move down from $61 all the way back to $60.45 for a $550 per contract improvement and this morning, we jumped in short again on /CL (Oil Futures) at $62 and already caught our first $500 gain, down to $61.50 – looking for a reload as we head into the inventory report at 10:30. Hopefully, we'll get another nice intra-day spike to short into (we can also go long at $61.50 while we wait).
This kind of flexibility comes from being in a CASH!!! position. We still have plenty of opportunities to add positions (a Top Trade Alert was issued just this morning on Coffee) and, even as I'm writing this (8:15 am, EST), the Dollar is once again being pushed down in order to engineer the LOOK of a rally in the indexes and commodities – once again looking to steer the sheeple back into the market so Cramer's buddies can dump their shares on them.
Today, we're not going to be the least bit impressed by anything less than the strong bounces predicted by our 5% Rule™, which are:
IN PROGRESS
