Last Thursday we saw two weeks of Floyd on the soapbox that "all is not good" come true. Traders with the July415 and July420P both hit top profits, with the 420 hitting 8.20, for over a 50% return.
No traders would have taken entry to the newly recommended call on Thursday, after watching futures, and we enter the week profitable many trades in a row, with no stop losses. Many of our hedge (two way trades) have taken two buys and the patience of a mule, selling only profitably on last day of stop loss, but it is because we are in a whipsaw in low volume and a declining VIX that this is occurring.
Our Dow projections are simplified this week, as we see several steps developing to consolidation (good for the market) and potential upside profits.
Historically, there are huge market gyrations, both up and down, after the Fourth of July.
This is also historically beginning the worst four months for the NASDAQ.
The talking heads and finance geniuses have already filled your heads. Empty them. The bottom is not over. The renewal will begin. We need a healthy upside, not one based on pure GREED.
A bit of FEAR is quite good for the market right now.
Study: http://online.wsj.com/article/SB124645016745579363.html#mod
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