July 28, 2017

$5,000 to Infinity

The $5,000 to Infinity options portfolio will officially begin next week so stay tuned for upcoming trading guidelines to some of the options strategies I will employ. It should be an educational and enlightening journey and hopefully in the end, a prosperous one. I look forward to moving through this with a community of like-minded options investors/traders.

As for today, well, the market finally moved lower after sitting in a ‘very overbought’ state for what seemed like an eternity. Greece was to blame for the decline, but I think we all knew that this type of day was right around the corner. We have had similar news on Greece, yet the reaction of the market was notably different. It was a technical sell-off pure and simple.

I will be watching 1180 in the S&P tomorrow. If it holds we could be right back to the highs, but if it fails get ready to feel what I think will be some short-term pain. I would imagine a trading range could be established over the coming months. Ever heard of “Sell in May and Go Away”?

More to come….

Have a wonderful night!