Traveling, But Watching These Markets Closely
Traders – Just a reminder that I’m traveling with the family in Florida and the coverage will be sporadic until August 23rd. That said, I am watching these markets fulfill our call for a 2500 top and watching for short opportunities every single day. We took one attempt to be short the Russell via the IWM put debit spread,….
but stopped ourselves out as the market attempted to find footing. However we do have a GLD call spread that is up the same amount of money that I lost on the IWM put spread, but it’s currently trading at $123.22 and we’re long the 124 / 128 call spread. In other words, if this market really starts to break down this GLD call spread should perform well.
Here we are on a Friday in the middle of August and the markets are threatening lower levels. There’s a lot happening on the political front, but we always have to take summer volatility with a grain of Margaritaville margarita salt.
I am watching closely 🙂
Don M – this is for you!
Roughing it takes perseverance 🙂
Todd, I think wave 5 is complete, and it is starting an A B C correction. What do you think?
Todd, Hey, man, I meant it as a compliment as in if we persevere in our trading like you have and are, we will be
able to rough it in complete style. Thanks for video update Have a Great vacation! I mean that lol 🙂
Hi Todd!
What are your thoughts on the huge divergence today between the major averages that grinded higher all day and the NYSE ticks which were quite negative all day and specially in the last hour?
Regards,
Carlos