-0.1%! Â
For those of you who thought 0% was the lowest rates could go, Mario Draghi just redefined the game. Oddly enough, -0.1% is HIGHER than was anticipated so we shorted the Dow (/YM Futures) as it popped this morning to 16,750 (with tight stops above) for a number of reasons that we discussed in our Live Member Chat Room earlier.
For those of you who read yesterday’s post (and our Subscribers get them via Email at 8:30 each day, with plenty of time to act ahead of the open), we called for shorting oil at $103.50 and this morning we’re at $102.25 – up a very nice $1,250 per contract in less than 24 hours. Â
On our Futures shorts, there were quick profits at the open but, as you can see from Dave Fry’s SPY chart (above), we raced back up and made new highs into the close. Â
Of course, for those of you following in our live Member Chat Room, we knew that was going to happen and, at 9:46, I said to our Members:
Wow, 16,650 (/YM) – that should be bouncy so don’t be greedy!  Can always re-enter if it breaks.Â
That non-greedy exit (up $250 per contract) saved us a lot of grief as the market came back and, fortunately, we kept our oil shorts for the day’s really big pay-off:Â
As I said yesterday, I can only tell you what’s likely to happen in the markets and how you can make money trading on that information – that is the extent of my powers - the rest is up to you.  We are going to be giving another FREE Webinar this evening outlining our “7 Steps to Potentially Making 30-40% Annual Returns” and this may be the last day we accept new webinar clients this month – as we’re just about a capacity. Â
[Chart by Dave Fry]
This morning (same as yesterday) our “fresh horse” to the short side is the Dow (/YM Futures, 16,780 at the moment) and tomorrow I’ll probably draw a chart showing how that trade worked out.  We already have a long play on TNA (see Monday’s tweet) and, if the pop to 1,135 on the Russell holds this morning, we’ll be looking to take the money and run on those – even as we add our Dow shorts. Â
