This is typical, isn’t it? Markets looked wayward and decided “nah” and instead melted the fuck higher. Is there rhyme of reason to this sudden eruption of prices? YES! As a matter of fact, growth stocks were terribly oversold, especially SAAS, and we got to the point where negativity got so extreme it became bullish.
Why does this happen?
Humans are cynical assholes. When they see the herd leaning one way, the people with brains like to go the other, contrarians.
I missed a really big trade today — because I was out. I will make up for it today and already took 3 new stocks onto the olde ledger.
“Fly, why not feed us here your fish?”
Because the 12 year free trial for access to my calculator brain is ostensibly over. By giving you picks, I’ve made you lazy and ungrateful. By forcing you to pay for Exodus, I am elevating your game and making you take this craft more seriously. See, I am a generous man and always look out for the best interests of my readers.
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Volatility is low, but there are big earners up on deck: MSFT this afternoon and AMZN tomorrow. I’ll be floored if SPY is still at 299-301 at 4pm Friday. All of this means that if your are a gambler and consider yourself lucky, Oct 23 options (puts AND calls) are probably underpriced.
Since I’m already net short, I bought SPY 300 calls. If i was neutral, I would have bought puts as well
oops, meant Oct *25* options.