Tuesday proved something that’s going to piss off every hedge fund manager on the Street.
Our newest members – people who started trading two weeks ago – just posted returns that would make veteran portfolio managers weep.
Usually when we hit a record high, which we did, we will hit another record high again.
So I’m gonna get into some calls. I’m feeling froggy.
That’s exactly what I told my Trade to Close community today as SPY kissed new highs.
Holy cow – you know that CRWV play I called yesterday while everyone else was sitting around “waiting for CPI data”?
The one where I wanted to buy calls on a stock trading around $100, near term at-the-money calls were “like five bucks” and I was ready to say “I kind of want to” anyway?
Some of you did take the calls and were rewarded big time…
Okay, so picture this: I’m running through a Florida monsoon and I literally asked a store if they had a trash bag so I could put it over my head to preserve my hair. If there’s a will, there’s a way, right?
Which brings me to today’s market.
We’ve got this inside day happening – super predictable – but you know what?
These rangey, rangey days are setting me up for some beautiful opportunities.
Everyone’s just sitting around waiting for CPI and PPI tomorrow like “what do we do, what do we do?”
If this zone completes, I’m gonna walk outside with a sign that says “I did not follow the game plan rules despite yelling at everybody about our outstanding track record.”
Yeah, that’s me today.
The same trader preaching “put the trade in, stay away” just got cute with a low-probability zone and proved exactly why my own rules exist.
Here’s what happened – and why this epic fail actually makes me more confident in our system.
Today was pure market chaos. SPY dropped nearly 8 points from 651.21 to 643.33, and our chat was buzzing with individual traders banking massive wins on put plays.
But here’s what separates the Zone approach from gambling: We had the right direction, but our zone never triggered.
