Business Magazine

Which Way Wednesday – 1,333 Or BUST!

Posted on the 06 April 2011 by Phil's Stock World @philstockworld

Aside from the 0.6% pop in the futures (8am), they slammed the Dollar down from 76.4 yesterday morning to 75.80 now and that’s a 0.78% drop in the Dollar just to get the market back to where it was yesterday – that’s pretty pathetic folks!  Already this morning, in Member Chat, I reminded Members to play the oil futures (/QM) short off the $108.50 line and we got a nice drop back to the $108 line exactly before stopping out and now we’re back to $108.50 where we can SHORT IT AGAIN!   

See, it’s fun to play with the manipulators…  Also in chat this morning, I reminded our Members why today is "rollover day" for front-month options (the ones we own, not the ones we sold to suckers):  

It’s not Wednesdays per se but the Wednesday before expiration day that we like to adjust. This is the day (10 days to go) when front-month premiums go into rapid decline so it’s madness to hold a long put or call – if a move goes against you, you have no time to adjust or recover. It’s a time when the next month is usually a reasonable price to roll and very often that roll can be still be paid for by selling those last 10 days of premium to some other sucker. As a rule of thumb, if you are in a front-month position on the Wednesday before expiration and you don’t like it enough to roll it to the next month – it’s time to cash it out.

Which Way Wednesday – 1,333 or BUST!To that end, I’ve already sent out a note this morning with adjustments to our $25,000 Portfolio, which has been getting battered by being too bearish on the Dow and oil as well as riding the bucking bronco that is FAS!  We’ll see if the S&P breaks our heart and finally holds 1,333 today.  As you can see from our Level Chart –…

You Might Also Like :

Back to Featured Articles on Logo Paperblog

These articles might interest you :

  • Father James Martin's Bridge-Building Metaphor and Call to Mutual Respect Betwee...

    Father James Martin's Bridge-Building Metaphor Call Mutual Respect Between Catholic Leaders LGBTQ Community: Critical Commentary

    I have not read Father James Martin's new book Building a Bridge, which calls on the pastoral leaders of the Catholic church to collaborate with the LGBTQ... Read more

    The 22 June 2017 by   William Lindsey
  • Caution: This Can Cause Addiction

    Caution: This Cause Addiction

    I opened my low-carb/keto clinic with Nurse Sylvie in February 2017, inside the medical clinic where I do my regular general practice. To get people to enroll,... Read more

    The 22 June 2017 by   Dietdoctor
  • Review - Vichy Mineral 89 Skin Fortifying Daily Booster

    I'm always battling with dry and dehydrated skin.. even when I do nothing different, my skin will... Click for Read more

    The 22 June 2017 by   Chantana
  • Talk Show Host: Not Here to Make Friends

    Talk Show Host: Here Make Friends

    photo: Harley Haskett Toronto based Talk Show Host are quick to release a new EP. Not Here to Make Friends sounds cheerful and angry at the same time,... Read more

    The 22 June 2017 by   Hctf
  • The Human Design... Not All Bad!

    Human Design... Bad!

    Whatever or whoever it was that designed the human, had to have been at the least, a sadist. Now the design isn’t all that bad, it’s just that there were a few... Read more

    The 22 June 2017 by   Skip1957
  • Citrus Marshmallow Sundaes

    Citrus Marshmallow Sundaes

    We all know what a Sundae is, and I am sure we have all secretly had one at some stage in our lives even those of us who are now on the healthy no sugar […] Read more

    The 22 June 2017 by   Shadesofcinnamon
  • Konkani Style, Hog Plum Pickle…

    Konkani Style, Plum Pickle…

    Summer is full of Sun, fun, travel yumminess.. For those who love Mangoes its the season.. The kids have vacations... The markets are filled with an amazing... Read more

    The 22 June 2017 by   Anithanayak