This has been quite a market.
One day we’re down 267. The next day we’re up 165. Then we’re all over the place. Then today we’re down more than 120 at open.
It’s madness, as we near the end of QE3.
Hold all positions, though with the exception of the Staples (SPLS) December 13 put. Consider selling to close the position for gains today. Forgotten Profits exited half of the position on October 3 for gains of up to 32%.
As for new ideas, I just issued a new trade on Harley Davidson (HOG). But if you’re interested, consider trading the incessant volatility in the market by buying to open the VXX December 2014 33 calls up to $3.60.
There are positions that are down in this mess of a market, but all remain on hold.
Ian L. Cooper
Forgotten Profits