Markets are down big again today! The Dow was down over 1000 points near the open! SPX traded below 1970 in the morning, and Nasdaq fell below 4300!
Between the various products that I have on Marketfy, we took some big profits on the downside again. The GOOG puts that we bought on Friday was a big winner, which we cashed out at day high:
Just 5 contracts garnered nearly $19,000 in profits, for a +301% gain!
The Ecstatic Plays is now back above +200% and up +45.6% for 2015, while the market is down in the “correction”! Here’s today’s performance chart on the for the portfolio:
Come see what Ecstatic Plays offers and what we are trading next!
In my article last night, I pointed out that that we could “quickly” see SPX at 1900. Today, we punched below that, before bouncing higher. At today’s close, SPX finished below 1900, at 1893.21. However, the market did close on a weak note. In October 2014, SPX fell all the way down to 1820. It is quite likely that we will see 1820 to tested again!
Also, if you have not, please take a look at my article, titled “It’s Time to Migrate Out of Oil!” As I questioned in the article, are we going to see $30/barrel on oil (WTI) soon? It has already fallen to $38/barrel today. Oil has been over-drilled, over-stockpiled, and the usage is going to decrease faster and faster as renewable energy sources take over. Oil is likely going to play a much smaller part in our future energy use. While the markets tumbled, solar stocks found buyers today. Already, solar stocks are “decoupling” from oil stocks. In the past year, traders have been trading solar stocks along with oil stocks. But, that behavior will soon change. If oil continues to drop, solar stocks should hold or rise. If oil bounces, you can bet that solar stocks will rise as well. It’s time to migrate out of oil before it becomes like coal, both in our everyday living and in the stock market!
Good night and HappyTrading! ™