Market Update – November 15, 2016

 

 

Daily Market Update –  November 15, 2016 (7:30 AM)


This week could be the beginning of a little bit of a return to normalcy, even as the DJIA may be climbing to new daily closing highs.

A mixed market yesterday ended the day with a relatively narrow trading range that probably served to disappoint many as the early gains were squandered.

This morning’s futures aren’t looking to be a very exciting day and there isn’t really too much scheduled for this week, although some important earnings are still coming in as we get ready for an holiday shortened week next week.

After that, it’s just right around the corner to the next FOMC meeting, as the free markets move interest rates higher, doing the work for the FOMC.

I’m happy to have been able to sell some calls on uncovered positions yesterday, but those calls continue what has been the story for about the past 15 months.

That is, using longer dated options in an effort to buy some time for price recovery and to scrape together some kind of meaningful premium in the face of low volatility.

While that has actually worked well in 2016, I would much rather see a 2017 with lots more trading and the use of more weekly expirations.

For now I won’t complain, but may reserve the right to do so once this week comes to an end.

At the end of this week sits 8 expiring positions and I would like to have the chance to either see them generate more income or at least contribute to my cash reserves as we head into the FOMC decision and what may still be an irrational market in the face of news.

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Daily Market Update – November 14, 2016 (Close)

 

 

Daily Market Update –  November 14, 2016 (Close)


We will now see how the market, the country and the world like a new, softer Donald Trump, as some of those going down as the swamp was being drained are beginning to re-emerge.

Markets were a little higher as futures were trading and no one really knew what awaited.

We never do, but when was the last time we really knew so little about what direction policy will take?

Not recently, for sure.

I have a little bit of cash to spend, but I think this week will be mostly focused on trying to do something with the positions that are set to expire this week.

I’d be happy if those could keep me busy and keep me either generating some income or some new cash.

There’s not too much going on this week, so it may be a chance to recollect some thoughts and figure out what’s next.

That works for me.

What really worked for me was getting to sell some more calls on uncovered positions.

Generating some more cash may make me more inclined to buy something this week, but i think I would still rather do nothing and get some decent combination of rollovers and assignments.

It’s all about the cash and I wouldn’t mind having some more of it as 2016 comes to an end.

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Dashboard – November 14 – 18, 2016

 

 

 

 

 

SELECTIONS

MONDAY:    Today is the first week of the next 4 years, so……

TUESDAY:    This may be the week for a return to normalcy, as the futures are trading flat, following a day with a relatively small trading range and little overall change

WEDNESDAY:  It looks as if it may be another quiet day and still with a chance to add to all time highs

THURSDAY:  It looks like it will be another day of quiet trading, even as some more respectable retail sales data and guidance is coming in this morning

FRIDAY:. It looks like another relatively quiet day to end a quiet week to end the November 2016 monthly cycle


 

 



 

                                                                                                                                           

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Weekly Summary

  

Daily Market Update – November 14, 2016

 

 

Daily Market Update –  November 14, 2016 (8:30 AM)


We will now see how the market, the country and the world like a new, softer Donald Trump, as some of those going down as the swamp was being drained are beginning to re-emerge.

Markets are a little higher as futures are trading and no one really knows what awaits.

We never do, but when was the last time we really knew so little about what direction policy will take?

Not recently, for sure.

I have a little bit of cash to spend, but i think this week will be mostly focused on trying to do something with the positions that are set to expire this week.

I’d be happy if those could keep me busy and keep me either generating some income or some new cash.

There’s not too much going on this week, so it may be a chance to recollect some thoughts and figure out what’s next.

That works for me.

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Weekend Update – November 13, 2016

Following the past week, it should be pretty easy to know what to do when the experts chime in and compete for your attention.

You run as far and as fast as your feet can possibly take you.

It will be fascinating to walk into a physician’s waiting room about 6 months from now and pick up some seven and eight month old copies of the news magazines sprinkled around the various end tables.

I’ve always enjoyed reading those aged articles just to get a snicker over how wrong the futurists and the experts consistently demonstrate themselves to be.

Most of the time, I don’t even have an appointment or any need. I just go to do the reading and then leave when someone finally asks “Sir, have you been helped?”

From the 99% probability of a Clinton victory in the Presidential election, as put forward by the Princeton Election Consortium, or the less sanguine 60-70% probability put forward by competitor fivethirtyeight, no one of any credibility got it right.

My guess is that if these elections predictions were written by stock analysts, the probability of a Clinton victory would have been reduced to 30% the day after the election, just as price targets and ratings are so often changed after stock moving news has already done its work.

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