May 30, 2017

Yes, it is finally over!

Just a quick post: The month is finally over. The improbable 9% gain in the S&P was, well, the best on over 70 years. Oh yeah, historically, September is the wort month for the market. ¬†History certainly did not repeat itself in 2010. I have had a short position (puts) in the S&P (SPY) for several weeks now and I have added them at various times throughout the month at various strike prices. Currently I hold puts at the 112, 113 and 114 strikes. So, of course, As you can probably deduct, I am still anticipating a short-term decline that should take us down to the $111.02 area on the SPY and close the first of several gaps that exist beneath the major market benchmark. However, I must say that my stance is being tested as … [Read more...]