Go on, take the week off. Really, these markets are just stupid – there's no point trading them. The volume on the S&P ETF (SPY) yesterday was 58M, one of the lowest levels of the year – including half days! We opened at $205.51 and closed at $205.21 with a high of $205.84 and a low of $204.99 so a narrow range of 9 S&P points during the day and then, at 3am, we magically race back up 12 points – on no volume at all . It's a manipulated joke of a market and, while we enjoy playing the game, I hear from far too many people who take this nonsense seriously and are worried about what to do in the face of all this uncertainty. The only trade we added in our Live Member Chat Room yesterday was a neutral butterfly spread on TGT, using our BE THE HOUSE stratgegy of selling premium over time against a long-term position . That's how you make money in this market – take it from the people who think they know which way it will go! We're hoping for a nice rally so we can add back Nasdaq Ultra-Short (SQQQ) positions, now that AAPL has bounced a bit. Of course you are sick of me saying "I told you so" but I did tell you so, right in our Friday the 13th post , where I said: Also, if you'd like a quick stock play – we picked up Apple (AAPL) at $90 yesterday and we leveraged it with the May (expire next Friday) $87.50 calls at $3.15, which closed yesterday at $3.25, which is net $90.75 and we think AAPL can at least bounce $1 or two and that should take those calls to $4, which is a very nice, quick gain into the weekend. With AAPL closing at $95.22 on Friday, those calls expired at $7.72 for a very nice $447 (137%) per contract win in 7 days. That's the kind of trade idea you get just for having a PSW Report Membership as it was right in my morning post. Of course, if you subscribed to our higher-level Memberships, you would have gotten this …
Go on, take the week off.
Really, these markets are just stupid – there's no point trading them. The volume on the S&P ETF (SPY) yesterday was 58M, one of the lowest levels of the year – including half days! We opened at $205.51 and closed at $205.21 with a high of $205.84 and a low of $204.99 so a narrow range of 9 S&P points during the day and then, at 3am, we magically race back up 12 points – on no volume at all.
It's a manipulated joke of a market and, while we enjoy playing the game, I hear from far too many people who take this nonsense seriously and are worried about what to do in the face of all this uncertainty. The only trade we added in our Live Member Chat Room yesterday was a neutral butterfly spread on TGT, using our BE THE HOUSE stratgegy of selling premium over time against a long-term position. That's how you make money in this market – take it from the people who think they know which way it will go!
We're hoping for a nice rally so we can add back Nasdaq Ultra-Short (SQQQ) positions, now that AAPL has bounced a bit. Of course you are sick of me saying "I told you so" but I did tell you so, right in our Friday the 13th post, where I said:
Also, if you'd like a quick stock play – we picked up Apple (AAPL) at $90 yesterday and we leveraged it with the May (expire next Friday) $87.50 calls at $3.15, which closed yesterday at $3.25, which is net $90.75 and we think AAPL can at least bounce $1 or two and that should take those calls to $4, which is a very nice, quick gain into the weekend.
With AAPL closing at $95.22 on Friday, those calls expired at $7.72 for a very nice $447 (137%) per contract win in 7 days. That's the kind of trade idea you get just for having a PSW Report Membership as it was right in my morning post. Of course, if you subscribed to our higher-level Memberships, you would have gotten this…
