Market Update for Thursday, March 17th, 2016

by Jeff on March 17, 2016

tog_logo_bw_new_iconIs the economy a reflection of the market? Or is the market a reflection of the economy? If you’re looking for that answer, don’t look here. But if you want a little entertainment while maybe learning a few things about options, then check out this video.

Today we look at some economic announcements, which really don’t give us any indication of where we might be headed. One item of note, though: the US Dollar is beginning to weaken. Then we look at the major indicators and indices and then on to my open positions.

My Bear Call on RUT  is not looking very well right now at all, but I still have a month to expiration and one standard deviation from today’s price is still pretty wide. As many of you might know, I have been burned by exiting early in a panic on these trades only to have the price reverse and give me a profit if I had stayed in. Only time will tell.

I sold my long USO last week and made a tidy profit. I have a long JAN17 119 Call on GLD that is at breakeven right now. Lately, gold has been looking like it might break upward! 

That’s it! Here’s the video…

Click here to watch the video

Click here to watch the video

Happy Trading

◄Jeff►

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