Wednesday, July 6, 2016

Pop On Fed Minutes 7-6-16

Market tested lower in the morning then reversed up in anticipation of FOMC Minutes. Fed didn't it again giving up rate hiking on current events, such Brexit. Bulls took charge from here. The IHS of Brexit is in play.

Had 5 trades with rollover of SPX 2110 to 2125 next week. The other four were closing positions. Didn't get to sell any puts during the drive down in the morning. I followed my rules not to be aggressive on a big event day like today.

Risk factors continue to improve. Available margin is up to 40% from yesterday's 31%. I will be in Clemson for the next two days. Will monitor market from there with limited access.

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