From a subscriber, that says it all:
"I wasn't sure who to send this email since Floyd is on vacation. I think I got into this service at the wrong time.I know Floyd and you are really concerned about the traders and I have read the testimonies.I too got into the call for the July 600c just when it tanked.I don't blame anyone for this.I just am not 100% comfortable spending the full subscription fee yet. My trial ends I think tomorrow.I am at the point I don't want to stop, but I am not 100% comfortable yet.I do have a small account and the
-3000 loss has taken a lot out of it.I am hoping that the market turns before July expiration date and I can recover the loss.Is it possible to extend the trial period another week to see if the market turns around? I still would like to get Floyd's comments on the 600C."
Floyd's response-We will be honored to extend this subscription. What should be learned here:
1. Why would one join a service and trade immediately? Paper trade and practice with us...study.
2. Holding beyond 7/3 (see comment on July expiry) means the trader has not even truly yet studied our manual. It also means the customer here has not fully understood how we trade, and the risk to trading.
3. To have a $3000 loss shows an over commitment to a trade for the first time trader, now "counting" on a trade to do well.
Puts and calls were both profitable for traders on 7/1. Whipsaw occurred in morning trade with 100 point swings bi-directionally. It took astute traders to buy watching futures, and trade calls on the first downswing, and puts on the first upswing. Some traders reported profits 3 times on put, call, put by 1.30 p.m..
The market hit highs of 11,448 and lows of 11,143 in yesterday's trading, allowing the July540P to hit highs of 2.75, and the July600C highs of 4.20. Both put and call were profitable signals yesterday.
Both of these signals remain the lowest risk OTM issues to trade whipsaw that is occurring as the market tries to find himself.
Floyd is on vacation this week and in my travels have met a great number of Americans. As I am "on the road" I"m stopping at gas stations, Mom and Pop diners, and small towns. Most Americans, I believe, don't get it. Perhaps should not even be allowed to vote:) I am seeing 4th of July fireworks displays and great Patriotism comments in hats and T-shirts, but the average Joe buying bottled water, driving SUV's, 50 pounds overweight, and believing "might is power." Very simplistic thinking. These may be the folks that want to drill for oil in the U.S., and open up our strategic oil reserves, as gas for our cars is now high priced.
What says it best may be this: A full semi driving down the road carrying a full load of Hostess Twinkies.
Think of this:
1. A semi using diesel driving state highways carrying a product that has NO food value, and is bad for you and wrapped in plastic. A product that makes you fat.
And we are ready to drill our shores for oil. Perhaps we can waddle to our graves while we bring democracy to the Middle East.
2. My anger here comes from Hampton Inn, the great "value" hotel Hilton chain, where my wife and I stayed a night on our travels. Breakfast is "free" here. There is no food of value, it's all donuts, rolls, microwave waffles, etc, but the value is in FREE, and the place is jammed. Not one product availalbe in the dining room is available in any format but plastic and paper...all food stuffs are served with plastic forks, styroform plates, plastic creamers, butter in tiny little plastic containers.....oil used in every product, all packaged in tiny containers, and thrown away in plastic liners.
And our overweight populace standing in buffet lines for the "free" food, thinking they are "saving money."
This is why oil speculators are leading the market. The manipulation that is occurring around oil prices makes me smile, as there is plenty of supply. It's classic free market manipulation at work and we are driving our own prices up. But, I'll bet many of our population will blame the gas stations for the high price, or the oil companies for record profits, when WE are the reason for the high prices, and we fuel the speculation. Hummers are pretend toys for us, to show our "support of the war", and "pretend soldiers" and SUV's in Florida should be enough to make you smile. 4 wheel drive to the ocean on the flat terrain :)
With yesterday's moves we are now officially in a Bear Market. June was the worst month in the market since the Great Depression. Stocks are off 2.1 trillion this year. The banking sector is in shockwaves from GREED, and lack of controls, and from our government promoting and supporting bad financial moves. Our debt has soared to new highs, our infrastructures are decaying, and our populace is most concerned about "increasing taxes," not even understanding the core issues that have created the economic turmoil we are in.
Hybrid sales for automobiles the Bush Admin has DECREASED tax incentives for purchase in the past 8 years, while allowing tax incentives to buy Hummers. I repeat this often to help show us that there has been clear and manipulated intent here to benefit the few. Halliburton, the no bid company for Iraq of which Cheney was the former CEO, has used their record profits to move their main offices to Dubai.
As we watch bottoms and endless speculation now about the market itself recognize that the rising price of gas has nothing to do with the reality of what the rising price of oil will really do to the U.S.
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