What we saw yesterday was the beginning of a trade range move, as the market bottomed again at 11,275, before heading to a 11,476 top, and regressing.
The Sept590C could have been bought as low as 9.10 and sold to highs of 12.00
Recently I have been not issuing as many subscriber testimonials, and have been focusing in on the "thinking" of the market.
Yesterday however I had 7 emails from subscribers asking one of two questions:
1. How soon will the market hit your top sales ranges of 11,820
-Floyd-only a crystal ball ever knows when.
2. I can sell my calls for 25% profit now, but if I wait til the 11,820 I could double my money?
-Floyd-ALWAYS sell at least partials profitably!!!
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Obama continues to raise money from corporate sponsors, and not just the small donor that he evidences so in his campaigns, and the general move to the right he is making should be watched, not for its shrewd centering to win, but for the beginning of collusion with special interest.
Floyd is investigating for real facts. Some things are starting to smell. I can find already how completely dirty McCain is from the contributions he has from lobbyists, but Obama seems right on the bus, already with a front row seat.
The Reuters/Univ of Michigan consumer sentiment index edged up to 61.7 in early August from 61.2 in July. Economists had expected 62. The 1 year inflation outlook cooled to 4.8% from 5.1%.
It is these kind of facts that leads the market. Take, for instance, that historical back testing and validity on the CSI are not valid, and the study simply one that has "gained an edge" and is "popular". This is indeed the case. It's a more scientific version of Floyd's 10 point Bell Curve to the put or call. When the CSI is 62 it's similar to the bullish percents available in point and figure charting, that indicate the public mood on supply and demand.
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McCain advises that he is "learning to use email". This is a cute statement, but sadly prophetic. It is OK that our poor citizenry do not yet use the internet, but it is NOT OK THAT THE LEADER OF THE FREE WORLD IS NOT INTERNET SAVVY.
75% of Americans of McCain's race, gender, and occupation are internet friendly.
What it means to me is not that he delegates "the internet" but has found no reality of importance in the use of the internet.
Within 20 years I believe our worldwide economy may be led by the computer and internet. To me, we're reading about a man far from touch with reality, a perfect pawn for corporate and wealthy Americans to continue supporting "their way"
Much of our dialogue recently has involved politics, specifically because what Bush and Congress have accomplished in 8 years is huge, hugely destroying our economy. We must think smart, not listen to ads about "raising taxes". It's not that simple
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Bankruptcy's are up 30% over the prior year in the United States. How have the tax cuts helped us? Are taxes really cut if bankruptcy is up 30%? and housing down 30%?
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