I am very pleased to report that on a day in which pretty much nothing happened, I made a good profit. By “nothing”, I need only refer to the futures today in which we had this thrilling action:
- /ES down 0.04%
- /NQ up 0.12%
- /RTY down 06%
Be still my heart! So, what’s with all this World War III talk, eh?
Almost all my little shorts behaved admirably today, and I increased my exposure. As for options, I had one screw-up trade but another follow-up trade which undid the damage. Specifically, I bought a bunch of SPY 675 puts and sold them at pretty much the worst possible moment; undaunted, I bought SPY 685 puts (both of these expired on Friday) and made a great profit to make up for my screw-up. Net result: no harm done, and an overall handsome profit for the day.
The /ES was strong most of the day, but it finally bumped its head on overhead supply and also succumbed to chatter about the Strait of Hormuz being mined.
Broadly speaking, my view is unchanged: the top on the /ES makes me absolutely tumescent.
The only earnings of note this afternoon was from Oracle, which is rocketing higher. The market in general doesn’t really care, nor do any of my positions.
Barring any more surprises from Iran, the next big event is going to be tomorrow morning’s CPI. Since today was overall a total non-event, I don’t have anything really left to say, so I’m going to be working on something new for our Platinum members for the rest of my day.
