The S&P posted its worst day since March. Oh how I hate September and March. This is not actually a surprise. If you have been following along on my 'Journey', you will know I have been predicting a September pullback the entire summer. Thanks to Trend Spider's Seasonality data, you'd have to be blind to miss it. If you don't already have TS, go ahead and try it out with the link below for 7 days. It is an investment that is worth it.
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If we look at the seasonality for SPY over the past 5 years, we can clearly see that the worst months are March, September, and October.
QQQ is a little more rocky.
Oh, and you know what Mrs. Janet Yellen said today to cause the market selloff?
"It is imperative that Congress swiftly addresses the debt limit. If it does not, America would default for the first time in history," Yellen said in prepared remarks. "The full faith and credit of the United States would be impaired, and our country would likely face a financial crisis and economic recession."
Really? How many times have we seen this story? Don't be a fool. Do you think while America added how many zeroes to the debt, giving to those refusing to work, we will just let the government default? This is just cotton candy at a state fair; a trick to get new investors to buy SPY puts; click bait for the MSM news cycle. And then, in a week or two, the economy will be miraculously recovered, and the news cycle will be back to what it was a week ago.
Again, don't be fooled. This is the time to start dollar cost averaging into your winter positions. Refer again to Trend Spider's seasonality and see how everything starts pumping in the holiday season.
MCB +10% (puts)
SBUX - Will open tomorrow.
EBON +25% (puts)
Dis +11% (calls)
T +30% (puts)
SBUX and NET triggered today. NET is free falling and I avoid that as it blew through support after a small bounce on the 50.
I closed my DIS when it started falling. Still managed a small profit.
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SBUX is looking as if it wants to bounce off the major supports. I think it is worth the risk. Also note the seasonality is horrible for September, but improves a lot in the coming months.
It looks like MCB is finally falling and I'll ride the puts down further; maybe to the 20MA. (top of the green cloud)
I had to get out of DIS as the stock was falling from the 'debt ceiling panic'. I have another alert set for the same glass bottom that seems to be working.
I don't want to set to many new alerts and get overwhelmed. My goal is not only to get out of September, but to slowly start building up longer term positions such as leveraged ETFs and favorite stocks that are now on discount. I'll write more about these and the strategy behind them tomorrow.
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