We don’t live in a land of fairies and elves and a 35% rise in all three major indexes (in only 8 weeks) without even a hint a of pullback or adjustment is completely out of line. Bull sentiment is increasing (never a good sign), insiders are selling, volume is weak and the overall economy sucks. Needless to say the market’s way overbought.
(Recommendation at the bottom)
As Option traders, our goal is not to suck every last dime out of a trade or to call tops and bottoms. It’s just not possible and a losing proposition. That said;
Portfolio update: The NASDAQ 100 (QQQQ) was closed at the open this morning for a 380% net profit. The trade was initiated on 3/12 at a stock price of 27.00. Three days after the market bottomed on March 9th.
It’s good to be back. My name is Ray Walkoczy, President and Co-Founder of Hyland Financial Group, LLC. After 18 years in the commercial mortgage and finance business it all came to a crashing halt one day in January 2008.
