For the first time in weeks, volatility has returned as we saw the S&P 500 accelerate lower as the day went on. As this happened the VIX saw its biggest rise in weeks as well. As this happened I closed out a couple of my premium selling trades for a profit. The reason I did this was because should this escalate into a 2-3 day sell-off, especially with Jackson Hole a potential risk for markets, I did not want to lose the gains. The only premium selling trades I have on for this week is the SPY and FB, both up.
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August 24th, 2016 Watch List
Watch Netflix $NFLX
Netflix, like much of the market, has been trading in a narrow, confined range most of this month. Volatility for the stock is the lowest it's been in years. As we head into the end of the Month and start of September I am looking to trade $NFLX for a sharp break out of the recent mundane action.
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Key Morning Charts
Ace In The Hole?
This Friday at 11 A.M est, Janet Yellen speaks. There is a very good chance it will move the market.
U.S. Fed Chair Janet Yellen speaks at the Kansas City Fed’s annual Monetary Policy Symposium in Jackson Hole, Wyoming. Minutes from the Federal Open Market Committee’s July meeting showed officials were split on whether an increase was needed soon. 09:00 local time (11:00 EDT)
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