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Prepared by and Scott
Writing under the nom de plume of J.L. LORD

Thursday | August 6, 2020

Hello Eizell.




Two days in a row above 3300.

The market was higher for no real reason other than the trend is running higher, and the markets have been higher on Wednesdays of late.

Yesterday's earnings by Moderna, CVS, Humana and Roku were not enough to attribute the 373 Dow run higher. We did have the ADP employment report and Trade Deficit yesterday, and though we are finally starting to look at economic numbers again, I can't attribute the run higher to those. We were that much higher before the market opened.

It was just a good 'ol day of buying now that we broke through resistance, and the next resistance is not until 3393 – the all time SPX high.


TODAY: August 6

TODAY – Back to normal two-sided markets, but higher.

LONG TERM – NEW ALL TIME HIGHS (possibly), and then a NASTY trade war sell-off – probably after the election.

We have had a lot of days in a row higher. We are due for a healthy day of falling; however, that doesn't mean it will be today. I see clear sailing higher until 3393, UNLESS Biden chooses Oprah or Michelle Obama. What do I know, though. I thought there was no way they would let him get the nomination – rather he was just a placeholder.

I am still standing by my prediction (made December 31, 2019) that we will be positive for the year and making new all-time highs by the end of the year. I maintained this stance even when the SPX was down -36% for the year (this has been here since January 1).

S&P 500 Price Limits

From 8:30 a.m. to 2:25 p.m. CST, there are successive price limits corresponding to 7%, 13%, and 20% declines below the previous trading day’s reference price.

From 2:25 p.m. until the 3:00 p.m. CST close of the cash equity market, only the 20% price limit will be applicable.

Average year with lots of intermittent volatility
(3% so far)

POT Logo

The class was the second in a MUST SEE series – almost as good as HOUSE MD. We have been playing with learning the CHRISTMAS TREE.

No....this is not a made up name that some traders feel the need to reinvent/repackage (an already existing strategy) to sound smart. Anyone attending my webinar knows that is impossible. LOL. Besides, I would have called it “cactus” - tough childhood.

The great news is that this class is applicable to Condors, BWB's, Unbalnaced Condors, etc. We covered the how the greeks protect a position, what happens as time until expiration changes, and as price changes. Love it.



Up and Running for POT students (so far).

Really quickly...

To help in your quest for the best possible options trading outcomes, we would like to know what level of options trading knowledge and skills you currently have. Please click the button below to indicate what level of trader you are? Please skip if you already responded. Thank you for participating.

P.O.T. Schedule



Trading is a tough job on a stomach void of coffee and humor.
You provide the coffee and we will take care of the rest.

Stocking up.



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