Tuesday Toss Up

I cautioned you to not be led into temptation by today’s "rally" but some of you didn’t listen!

This was one of those days where I felt like I was in Pamplona and I went to get a coffee and picked the wrong time to cross the street.

I certainly angered the gods of Wall Street with my sermon in the morning as all of my put positions were punished when the market caught fire in the afternoon but I held firm to my faith and continued rolling up our puts and adding to the DIA put position (we ended up with the $136 puts).

I don’t know if I was right or wrong but AMZN’s earnings were not taken well in after hours trading (down 7%) so we’ll see what kind of follow through there is.  My issue with th… (more…)