Intra-Day Update: PPTPL Alert
Intra-Day Update: PPTPL Alert
Not going to waste your time with any chatter on how sweet this move was. Yes, it was more than any of us had hoped for going into the weekend. However many of us didn’t catch much of this one, but that’s a story for another day. Something I NEED to caution you guys about as we’re nearing the closing bell is that we’re dangerously close to the PPTPL again. Take a look:
Back to the PPTPL.
If you’re holding any puts, 3:55pm EDT is a good time to close out. We don’t know what the PPT will come up with overnight, they are surely holding emergency meetings as you read this. Perhaps we get a cut of the fed funds rate to 1.5 or below – although for the record you should know that inofficially it has been already lowered to between 1.25% – 1.5% behind the scenes. So, it would not make much of a difference at this point, but that won’t stop Ben and Hank to do ‘something’. Be prepared for a bounce tomorrow – which would be good for us bears anyway. I’ll be back later.
