We're waiting for the Q2 GDP report . I certainly don't remember any economic reports in April, May or June that make me think it's a huge winner but Q1 was -0.2% and the S&P has climbed from 2,060 on April 1st to 2,125 (3.1%) on June 23rd – completely ignoring the bad data right up until the last week, when it then dropped all the way to 2,057 on June 29th, wiping out the whole quarter of progress in just a single week . We nailed the top with a series of posts attempting to warn people to get out, starting that Thursday (6/18), in the article titled " Thursday Thrurst, Dollar Sacrificed to Save the Markets (again) " where I said: " Now the Dollar is at 94, which is 6% lower and the S&P has managed to claw back to 2,100, which is 2.4% higher. When you consider the fact that the S&P 500's value is calculated from a formula that is based in Dollars, we've actually lose 3.6% in real value since the April lows but shhhhhhhhhhhhhhhhh – don't tell that to the bulls! " We called for shorting the Futures at S&P 2,100, Russell 1,270, Oil $60.95 and Gold at $1,205 and, even more brilliantly, we called the short on China's ultra-long ETF (CHAU) and picked up the Nov $65/53 bear put spread for net $8 and that's miles in the money now, looking for our full $12 return and a 50% gain. I'm not supposed to refer back to posts on PSW or Seeking Alpha won't run them but they didn't run my post of June 18th because it, in turn, referred back to other posts and the funniest thing was that our post of June 20th, which was a Seeking Aplha Trade Review , was also rejected by Seeking Alpha – AND WE WROTE IT JUST FOR THEM! You see, it sets a very bad precident when some authors are willing to be held accountable for their picks and 99.9% are not. On June 19th it was: " Five Time Friday: Here Come Those Tears Again " where I said " It must be the third week of the month because that's the week the S&P gets to 2,120. It has happened every month since February and the …
We're waiting for the Q2 GDP report.
I certainly don't remember any economic reports in April, May or June that make me think it's a huge winner but Q1 was -0.2% and the S&P has climbed from 2,060 on April 1st to 2,125 (3.1%) on June 23rd – completely ignoring the bad data right up until the last week, when it then dropped all the way to 2,057 on June 29th, wiping out the whole quarter of progress in just a single week.
We nailed the top with a series of posts attempting to warn people to get out, starting that Thursday (6/18), in the article titled "Thursday Thrurst, Dollar Sacrificed to Save the Markets (again)" where I said: "Now the Dollar is at 94, which is 6% lower and the S&P has managed to claw back to 2,100, which is 2.4% higher. When you consider the fact that the S&P 500's value is calculated from a formula that is based in Dollars, we've actually lose 3.6% in real value since the April lows but shhhhhhhhhhhhhhhhh – don't tell that to the bulls!"
We called for shorting the Futures at S&P 2,100, Russell 1,270, Oil $60.95 and Gold at $1,205 and, even more brilliantly, we called the short on China's ultra-long ETF (CHAU) and picked up the Nov $65/53 bear put spread for net $8 and that's miles in the money now, looking for our full $12 return and a 50% gain.
I'm not supposed to refer back to posts on PSW or Seeking Alpha won't run them but they didn't run my post of June 18th because it, in turn, referred back to other posts and the funniest thing was that our post of June 20th, which was a Seeking Aplha Trade Review, was also rejected by Seeking Alpha – AND WE WROTE IT JUST FOR THEM! You see, it sets a very bad precident when some authors are willing to be held accountable for their picks and 99.9% are not.
On June 19th it was: "Five Time Friday: Here Come Those Tears Again" where I said "It must be the third week of the month because that's the week the S&P gets to 2,120. It has happened every month since February and the…
