Trade Execution: Sell 102 July 130 SPY calls @ 1.87.
Rate of Return Today: 3.8%.
Profit on the Trade (Realized): $10,125.
Portfolio Balance: $19,579.
Performance Year to Date: 95.79%.
Objective: 100% by November 21, 2011.
Time: 6:31 a.m. (PST), Wednesday, June 29, 2011.
Assessment: Market gapped up on news of Greek vote. Good practice to sell on the news.
Twyman Asset Management
June 29, 2011
Dear Terry:
We closed out the trade this morning for a nice realized profit of 95.79%.
Our 100% objective is within sight. Triple negative divergence (MACD Histogram) is evident on a 60-minute chart. As we discussed, market conditions are setting up a top. The next major move should be down.
QE2 is ending this week. Where is the money going to come from to buy all of the treasuries next week?
Warm regards,
Wink
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