A great close to the week as the SPY (and S&P) closed above $190 level going into a 3 day weekend and the VIX fell to multi-year lows... which bears will use as a contention for a possible surprise downside move due to complacency. The VIX did close right at the low of the day at 11.36, and below the lower bollie band, but think the close above 190 on the SPY trumps anything negative I could take from it.
I traded 3 lotto's today with AMZN stealing the cake and slightly making up for my SCTY and WYNN positions. UPB had a great call on PCLN lotto 1192.50 calls, and there were many more in the chatroom to include AAPL... a stock that has provided quite a few monster lotto friday plays the past few weeks.
Zillow continued it's monster move and reminds me so much of LNKD in its heyday when it was a $90 stock, and everyone hated it. Not saying Zillow goes to $250, just think it may go higher then even I had targeted. Will continue to pay attention in the coming weeks.
It's funny how the bearish chatter has turned in the last few days. Folks clamoring about broken charts and market damage are now saying more upside is possible. That is why it is important to TUNE OUT THE NOISE.. So many ambiguous traders out there...
Here are my current positions:
I will be doing the Week Ahead Webinar on Sunday morning at 8:15 am, you can sign up here: https://attendee.gotowebinar.com/register/6977330724180952834
Don't want to do it on Monday or Sunday night. If any one has an issue, shoot me an email. As always, it will be recorded and available a few hours after.
The New Private Twitter Feed will be Active starting Tuesday. We will transition the best we can, posting our tweets on the old and new one for a few days. Please, please, please get your requests in: https://www.optionmillionaires.com/2013/optionmillionaires-private-twitter-access/ (Diamond for new members, Gold and above for Grandfathered members.)
Have a Great Memorial Day Weekend and please honor those who have sacrificed for this great country(if you are in the U.S.)!!!!
- JB