6/20 - Market & Expiration Commentary

Things are looking pretty ugly…

Today was the biggest volume day since 3/20, and that was an UP day.  The DOW is now within ~100 points of the MAR low, and ~200 points of the JAN low.  The NAZ is still holding up pretty well considering the action in the larger market.

It wouldn’t surprise us if we were to get a bit of a rebound rally next week.  We ended the week by tightening our hedges Selling closer to the money Calls, and by purchasing more downside protection with additional Put and/or Put Spreads.

We will update the Position Grids over the weekend and are now going to start concentrating on evaluating oversold, solid, dividend paying stocks that may be getting hammered in this current environment.  This is exactly the time that we look to add to our Long Stock holdings…  That is, when everything regardless of performance is selling off.

Everyone have a great weekend.  I will be working a bit this weekend so if anyone would like to chat or has questions please give me a call or drop me a note.

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We are also near the end of our patience with our current Membership engine and their inability to fix the login issue with our Members, though they have assured us that it will be fixed very soon.  Until it is, we will continue publishing all of our posts to the Public area for all to view.

Coach BD