Thursday, November 15, 2012

The Market Bottom is in

I'm calling the bottom of the pullback right here guys. We are going up as of now. How do I know?
This morning I bought 1, 135 SPY JAN Put option. I got filled this morning @ 3.67.

All joking aside, I do have some concerns about the market going forward. I'll have a couple videos coming out discussing the Fiscal Cliff (tonight) and how I am going to be reacting to it (video out tomorrow). In the meantime though I have spent $370 out of the trading account ($367 for the option plus $3 for commissions). SPY is an ETF covering the S&P500 which will measure the general market movements. This is to protect the Investing Account as a whole, not a particular position. More on this tomorrow...

With investing I get filled in on Tuesday and my expectations to hold are for months or years. With trading though it is a much quicker time frame so I wanted to get this trade out in real time and not wait a couple days to make it look like I cherry picked data or to avoid talking about losses. I REALLY hate when others do that.

Disclaimer: The investments and trades in my videos and blog entries are not recommendations for others. I am not a financial planner, financial advisor, accountant, or tax adviser. The financial actions I talk about are for my own portfolio and money and only suited for my own risk tolerance, strategy, and ideas. Copying another person's financial moves can lead to large losses. Each person needs to do their due diligence in researching and planning their own actions in the financial markets.

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