Brian Johnson with TheStockMentor.com and we did see a move back to the downside in the markets with a small pop to end the day. Seems there are still some lower levels that the bulls want to try and hold but overall I don't think it will make much of a difference going forward.
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Looking back at an optimal put hedge on GLD
In Tim's after the close wrap-up video Thursday ("Fire, Walk With Me"), he noted how precious metals had fallen out of bed recently. Below is a look at what happened with an optimal put hedge on the gold-tracking ETF GLD Thursday. Then, a preview of an idea for timing when to roll options. First, though, a quick reminder about optimal puts.
Unlike my evangelical Christian readers, I lightened up today (ha! ha-ha!) and took profits on many shorts.
I still have End-of-Quarter-Itis, but that's OK. I am 30% committed right now, with about a 40/60 bull/bear split. My bullish plays are commodity-oriented (DBC, DBA, and a handful of beaten-down individual equities). I am also short TLT, which is playing with fire a bit, but – – just how overbought can bonds possibly get?
Today was quite stressful (in a good way), and a lot of work. I need my mind to clear a bit before I do a post, and I'll probably make it a video.
I promise this time: no Christians with gas, no Jews with runny noses, and no Muslims with bikinis. I'll seek to offend as few as possible.
From my post last Tuesday….
…and today…..WITH A PROFIT OF 40% IN ONE WEEK!.….