July 28, 2017

Short post again tonight. I am trying to work on the Insider’s page of the site which should be updated in the next few weeks. Also, I am working on a few new portoflios involing LEAP spreads. I was planning on introducing them this week, but I thought this was unfair to my paid subscribers, so I will introduce it to them first with guidelines and will report to my loyal blog readers next week. I established the positions earlier this week and I will post everything, including a few graphs next week. Be prepared to learn about the Greeks.

As I stated yesterday Friday brings one of the more consisitent seasonal biases. Over the last 50 years the trading day prior to Labor Day has been higher 75% of the time with an average return that exceeds 0.4%.

Tomorrow should bring low volume, particularly after teh last of the economic reports are out. I would expect to see volume taper off as we move to the closing bell. However, Bernanke is speaking tomorrow in Jackson Hole. Ahh, Jackon Hole, I spent a quite a few days there in my 20’s. Such a beautiful place and the skiing is phenomenal, but I digress. Fedspeak has had a tendency to move the markets and any slight inference of a move in the interest rates could create some wild volatility on a day that should otherwise be spent in transit to the last holiday destination of the summer. Well, I can assure you I will be grinding it out here tomorrow and I hope tht we do see some volatility tomorrow.

Overbought/Oversold for August 30, 2007

SPY – 52.2 (neutral)

IWM – 48.3 (neutral)

DIA – 54.8 (neutral)

QQQQ – 63.4 (neutral)

GLD – 51.8 (neutral)

OIH – 62.3 (neutral)

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Andrew Crowder, www.crowderinvestments.com