There was another horrible terror attack in France yesterday.
The markets have given it a big "who cares" so let's act like it doesn't matter because it's Options Expiraiton Day and it's much more important we pump up the stock indexes (back to that magic 3,000 mark on Euro Stoxx and 10,000 on Germany's DAX) so the Funds, who are about to dump massive amounts of shares, can buy cheap puts to protect their gains during the sell-off.
Oops, I'm not supposed to tell you that – it's one of those inside market manipulators' secrets we're not supposed to discuss with the retail
suckers traders. Move along, nothing to see here, pay no attention to the man behind the curtain. Terrorism? Why on Earth would that affect the stock market? President Trump plans to nuke those suckers out of existence, so why should we be worried? It's nice to know he has a plan – even if the plan is horrifyinig!
We still haven't gone full-blown short on the markets because the technicals are so set against us but we did press our short bets in our Short-Term Portfolio as well as our Options Opportunity Portfolio in yesterday's Member Chat. We looked over our Member Portfolios in Wednesday's Live Trading Webinar and the replay for that is HERE.
While the Dow and S&P may be at all-time highs, we're still waiting for the Nasdaq (5,150), NYSE (11,250) and Russell (1,292) to confirm the move and, of course, looking at the DAX, they are still miles away (20%) from last year's high of 12,500 and China is still 40% off the highs and Japan's Nikkei is still 20,000 points (50%) off it's all time high at 39,000 but that was 1989. More recently (last July, in fact) the Nikkei topped out at 20,600 so 16,600 is only down 4,000 – also 20%ish.
So all the other global markets are down 20-40% and we are making all-time highs. This hasn't happened since October of 2007, so I'm sure there's nothing to worry about this time either…