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Prepared by and Scott
Writing under the nom de plume of J.L. LORD

Friday | January 17, 2020

Hello Mayumi.



YESTERDAY: January 16

This market is insane and fueled by helicopter money from the Fed. It was crazy to start with when we had concerns about impeachment, war with Iran and recession with China tariffs. Now that the concerns are lifted, traders have their foot to the floor on the gas peddle.


I underestimated just how much buying there is out there. In yesterday's MORNING COFFEE REPORT, I wrote that we would move above 3300 in the SPX, but not close above it. We hardly ever close above a big number the first time. We do close above it the first time if we are going to keep going higher, or people are trapped on the wrong side of the trade.


The market opened 13-14 SPX points higher, and sat the whole day. From the open until the last 30 minutes of trading, the SPX was in a tight $7 point slow moving range. In the last half hour, the SPX jumped another 8 to 10 points (depending on where you consider the starting point).

As is custom, AAPL led the move higher once again, closing higher by another $3.90 to settle over $315. What is interesting is that we are moving up so much that the VIX stopped falling on days the market closes higher, meaning short premium traders are finding it hard to keep their short gamma hedged with one direction moves.

Wednesday was the signing of the China Deal, and yesterday was the passing of the USMCA – the most popular of all the Village People's bills. I think they made a song out of it.


TODAY: January 17

You have to be long and hedged until it stops working. I can't tell you when that will be.


SLB is the only company of significance reporting today.

Average year with lots of intermittent volatility
(+2.66% so far)

POT Logo

POT PEOPLE can expect to see a lot of things today in preparing for the last stage of a the bull run, which is often the strongest, but choppiest.

Also...A VERY IMPORTANT NEW FEATURE is now up and running. Now all updates and position sheets are on the MEMBER'S SITE instantly. This should be a huge benefit for keeping the things that are important to you organized and at your finger tips.


A Polite Warning:

Out IT guy is keeping an eye out for suspicious activity and too many IP addresses going into one account. Please do NOT share your credentials with anyone or we will have to deactivate the member's login. We are doing this as an added benefit to our students, and not for it to be abused. Thank you.



Up and Running for POT students (so far).

Really quickly...

To help in your quest for the best possible options trading outcomes, we would like to know what level of options trading knowledge and skills you currently have. Please click the button below to indicate what level of trader you are? Please skip if you already responded. Thank you for participating.

P.O.T. Schedule



Trading is a tough job on a stomach void of coffee and humor.
You provide the coffee and we will take care of the rest.



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