second day rally continued. closed out call option practice trades +200%
Energy again performed best in my opinion. my lowest performing call option trade was GOOG JAN 420 call options. i suppose they only got 6% is because it’s such a big fat stock so maybe the options trade a bit slower with price increase. now just because today had a good continuing rally that doesn’t make me think this is the bottom or the new trend will continue. this could be just a bigger bounce. what the fed did or rumored to do doesn’t subtract the trillions of debt our country is in nor does it stop credit hungry Americans from spending their entire paychecks. my point is that we are a consumer spending society not a saving one. one of my co-workers was telling me its so different right now, people stopped spending, and i told him that’s bullcrap. the fact is where the people that messed up their credit with foreclosures and don’t have credit power anymore the new rich who sold their houses at the highs or becoming new landlords will step in and start buying.