Is This Cause for Concern
Welcome to the free video. Today we had a good sell off, a good sell off in the markets for -- well let's actually look real quick... at some SPY. Last time we actually punched through the 21 EMA on the spiders was back on December 11th, so almost exactly a month ago. And in this case it lasted about two solid days of selling before we rebounded. When it happened again prior to that you can see that we stayed below that 21 for about a week or so.
So the question is, is this sell off just another one of those buying off opportunities or a little bit more you know, time for a little bit more concern. And one of the things I'm watching here -- and I talked about this in the premium video for a while -- the Yen has got me concerned here. I mean it was up 1 percent today, solid close above the daily. Now for the first... the last time we had a solid close like that I mean this thing actually ran pretty good. Ultimately the longer term trend on this is still down, but you know, if this thing has a vicious rally to the upside here, guess what happens to the stocks, they continue to go lower. So it's a little bit of hurry up and wait, just to be cautious.
In a situation like this when directionally you're waiting for the market to kind of make a decision one way or the other, one of the best things you can do is sell Iron Condors for income in stable kind of stocks like Visa. And there's actually a nice solid list of stocks. You can actually sit there and no matter what the market conditions are, is sit there and just sell those and continue to produce income off of those plays while waiting for the market to do its thing.
So we do have a class on exactly this, coming up on Wednesday, January 15th. That's this Wednesday from 7 to 9 east coast time, which of course is 6 to 8 central time. And in this class if you go to simpleroptions.com/iron, Bruce is going to be coming on and talking about his favorite way to trade small accounts for income. This is ideal for 5K to 25K accounts. He'll show you the one high probability Iron Condor that you can do in any market or volatile environment.
For example we have a lot of uncertainty right now so it's nice to have some plays you can actually just sit there and generate income no matter what type of market environment you have. These are all low maintenance easy to understand trade set ups, and very easy step by step rules to tell you exactly what to do. And the nice thing about this is you don't have to do any adjustments or hand off trades. All right. This is a hands off trade...which is nice. This is ideal again -- even if you're trading full time great. But if you're working full time, this is something you can set it and forget it and go back and do your thing. OK. So hopefully that all makes sense. We are going to post this class on our website for $297.00. If you are getting this link you can sign up for $97.00 tonight. OK. Hope that helps. You guys have a great night and we'll see you at the next update.