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Politics As Usual

November 1, 2010


Good morning. A very quiet finish to the market last week as the nation prepares to go to the polls this coming Tuesday. Someday someone will explain to me (officially) why elections are not held on a Sunday like in Europe, but I guess the unofficial reason that those in power really do not want big turnouts will suffice. This election, at least in Illinois, has been particularly nasty, with a lot of outside money entering the state (a lot due to the absurd Supreme Court ruling last year) that is virtually untraceable as to its real source.

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Skewed Volatility

October 11, 2010


Good morning. The Federal Reserve gave us another strong market last week, with the SPY up 1.93 (1.7%) to close at 116.54. That is the highest close in the SPY since last May 12. The VIX was down sharply on the week, closing at 20.7 (down 8%), which is the lowest closing since May 3 of this year. Again the investing public appears comfortable with the price of insurance on the market decreasing as the market advances, something that, to me, has always seemed counter-intuitive.

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Backfire

September 27, 2010


This week is the last chance for you to register for this great AND FREE seminar: If you are interested in learning more about my managed money program, the Protected Index Program (PIP), PTI Securities & Futures is hosting a no obligation, no-pressure, complimentary In-Office Protected Index Program Seminar on Saturday, October 2nd, 2010, in a classroom overlooking the CBOE at PTI’s Chicago Loop Office from 9:00am to noon.  A continental breakfast, coffee bar and classroom materials will be provided. Topics covered include: review of option basics, investment program objectives, diversification solutions, SPY basics, index portfolio examples, option time decay and PIP portfolio example, strategy expectations and objectives and longer-term fixed income products. Space is limited and all attendees must register at www.PTISecurities.com/Education.htm – Come out, have a cup of coffee with me, and meet some of PTI Securities’ experts.

Good morning. It was another positive week for the market last week, or actually was a very strong Friday after a lackluster first four days. The SPY closed up 2.33 (2.1%) on the week to finish at 114.82, all but one cent of that advance coming on Friday. The economic numbers had been generally positive for the week, and when the Durable Goods number on Friday came in less than forecast in total, but better with the Transportation orders out, the market ran to the upside.

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Earnings Season

July 12, 2010


Good morning. It was a very positive week for the market last week, with the SPY trading up 5.76 to close at 107.96 (5.6%). It was an even more dramatic move for the S&P Futures contract, which actually traded down to 1003 in the electronic session last Monday and finished the week at 1072.50, or up 6.9% from the low print. Last week’s positive move almost exactly negated the strong down move the week before, and last Friday’s close of 107.96 is a whole 9 cents higher than the close on 6/25 of 107.87.

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About That “Flash Crash”…

May 24, 2010


Good morning. Wild and down market last week, despite the late day rally on Friday. For the week the SPY was down 4.78 (or 4.2%) to close at 109.11.The low on Friday of 105.36 was only slightly above the so-called flash crash low of 105, not a pretty site if you were in the camp that the “flash crash” was just an anomaly.

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