Today's market action was dedicated to Benjamin Shalom Bernanke, the 14th Chairman of the Board of Governors of the Federal Reserve, commander in chief to some of the choppiest price action we've seen for some time.
I was up all night and hit the gym earlier than usual, burning 702 calories from semi-cycling 8.88 miles in 35 minutes flat. People who lift weights at the gym make some unusual noises, but I digress.
The market opens and Brian Dolan's calm, cool, collected trading logic was proven right today. If it wasn't for BD's market leadership, I would have totally gotten out of the market and kept my cash as is.
But we're here to make money and I summoned up the courage to trade after attending BD's stellar webinar yesterday. I stayed the course with STO today and in the middle of the session, right before 2:15 pm, I bought MS too. Options chains looked bullish. I bought at $17.39 and figured that the $16 puts were as good as obsolete. The puts at $17 and above must be thinking that this is a good arbitrage opportunity to buy at market and keep their puts through to $19.
I thought I was wrong when the market immediately moved against me about 4% after Bernanke hit the ball. No one was sure where it was headed, but everyone soon decided this appeared to be a home run.
Lord, Almighty!
+7.48% SBA
+4.97% Roth IRA
+3.98% DJIA
+5.29% Nasdaq
+4.74% S&P
Special thanks from Coral to Benjamin Shalom and Brian Dolan!
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