Markets Test then Catch a Break
Seeking Alpha Analyst Since 2007
The very odd behavior of the market continues. When you went to bed last evening you probably thought the markets would be in big trouble on Wednesday - heck, the futures were down 1% or so on basically no news, but at the open that loss had virtually disappeared. The low of 1302 last night was a result of running stops-lots of them. The market has been under a great deal of selling pressure for weeks, look no further than sectors in cyclicals, financials, tech and commodities. Yesterday saw a big surge in gold while silver picked up the pace today. The buck fell back some. Economic data came in a bit disappointing yet money was flowing to equities as it appears the oversold market was ready to reverse. The VIX continues to hover near annual lows - closing just above 17 today. We could have some muted action to end the week before the holiday weekend.
Today we posted two massive winners today - both entered a week ago. Remember, I always tell you to BE PATIENT. With my style of swing trading we don't need to day trade. I'm trying to make dollars, not pick up coins off the floor. Daytrade doubles are extremely rare - they happen from time to time but you can't expect it everytime. That being said, patience allows us to post some big winners if we read the charts correctly. (see the chart on CF below with notes). Do we win every trade? Absolutely not - but trading is not about being perfect, especially options. But we'll win far more often than we lose. Just ONE contract in a trade below would have made you more than a one year subscription. CLICK HERE to sign up, it's easy!
May 25, 2011
07:30 | Bagger Vance CRM ($150.00) Sold to Close CRM JUN 140 CALL Jun 140 calls, at $12.20 +152%
07:28 | Bagger Vance CF ($151.00) Sold to Close CF JUN 140 CALL Jun 140 calls, at $13.15 +127%
We have many more in the oven. Hit 'em straight! Bagger
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