We're 6 for 6 in the Futures this year!
Still waiting for our other Webinar call, shorting the Russell at 1,385 to pay off but we already had a nice win shorting the Nikkei, where we had two short contracts that paid $2,000 overnight. We have 10 short /TF contracts on the Russell and they pay $50 per point, per contract if we get them right and our live reading of the Fed Minutes led us to conclude we'd have a sell-off once the analysts were done sifting through the Fed notes.
If you missed our Live Trading Webinar yesterday, there will be a replay available on the www.PhilStockWorld.com main page later today. We also had some long trade ideas and a good general discussion on the economy and the markets to set us up for 2017. The Coffee (/KCN7) trade we discussed in yesterday's morning post is already up to $148, which is a gain of $750 per contract and our JO trade is on track, as is the SONC earnings play that looks like it will return the full 389% on cash we were looking for.
These free trade samples only last until earnings season begins next week and, after that, you will have to become a paying Member to enjoy these picks every day. The trade ideas in the morning post are only a fraction of what goes on inside our Live Member Chat Room every day, as we take full advantage of these wild market swings.
This morning, as noted, we're shorting the Russell ahead of the 9:45 Bloomberg Consumer Comfort Report. Both Macy's (M) and Kohl's (KSS) gave terrible Q4 sales reports last night and Buckle (BKE) is reporting a 15% drop in sales in December – where is that Consumer Spending strength that's supposed to be driving the market?
M is an interesting one, we bought them for our Options Opportunity Portfolio in late October with the following trade: