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Stocks rose today as Investors cheered good earning reports. Both Dow and S&P 500 closed at a new record highs with S&P 500 closing above 1770. Investors are looking forward to the Fed Announcement tomorrow as FOMC concludes their two-day meeting. No change is expected in Fed Bond buying program, any forward guidance may help give direction to Stocks after announcement.
We safely made 1.4% this week. Stocks rose today as S&P 500 closed to another record high. Durable Good Order data came in better than expected but Consumer Sentiment was weaker than expectations. Solid earnings by Microsoft, Amazon and Procter & Gamble helped the stocks as major indices posted about 0.4% gains for the day.
Stocks rose today after better than expected Manufacturing data from China and nice earning reports from Home Depot and Visa this morning. S&P 500 reclaimed 1750 level as major indices posted between 0.35% and 0.65% gain for the day. Microsoft and Amazon reported after the closing bell today, both beating estimates and stocks are gaining in after-hours trading. This should help tech stocks tomorrow. SPY closed at $175.15 leaving a cushion of $4.15 on the down side and $3.85 on the up side for our trades with last day of trading left for the week tomorrow.
Stocks broke the wining streak today and closed in red after weak earning report from Caterpillar and worries about tighter monetary policy from China. Major indexes posted between 0.35% and 0.6% losses for the day. SPY closed at $174.57, leaving a cushion of $3.57 on the down side and $4.43 on the up side for our trade with two days of trading left for the week.
We traded today, a Long Iron Condor on SPY, Put side short leg at $171 and it filled completely at 1%, the Call side short leg at $179 which filled 40% at 1% credit, so it worked out a combined trade of 1.4%. Stocks rose today after weaker than expected Jobs report as Investors took that as a sign of delay in tapering Fed stimulus. S&P 500 surges past 1750 comfortable closing at 4th straight record high. SPY closed at $175.41 leaving a cushion of $4.41 on the down side and $3.59 on the up side for our trade.
We safely made 2% last week as stocks logged nice gains for the week on Friday. It was a lackluster trading session today as major indexes traded within tight range and ended up mostly flat for the day as Investors took a breather and preferred to wait for jobs data tomorrow before placing more bets.
We traded today once in the morning and tried to trade again towards end of the day. Second one didn’t get filled but the first one got filled 100%, Bull Put Spread on SPY at 2% credit. Stocks mostly rose today after the budget and debt resolution last night. Dow lagged after not so good earnings from IBM and Goldman Sachs. S&P 500 closed at an all-time high after Investors believed that the tapering from Fed may not be started anytime soon because of the recent shutdown and there is still uncertainty about what will happen in January-February when we will be in the same situation again.
A deal on the budget and debt limit resolution seems to be in place on the eve before the US Treasury runs out of money. Short term resolution to the political gridlock sent the Markets higher today with Major indexes posting better than 1% gain for the day.
Washington Drama still continues over the budget and debt limit. Markets were up moderately yesterday on the hope of resolution but were down moderately as the two sides seemed farther on any deal. It has now come down to the wire, on 11th hour, with just two days left before US may default. We are staying on the sidelines until a deal is reached this week.