Making Money When The Market Is Down!

Wahoo! A little selling on the S&P 500 is just what we needed!

With earnings season here, the expectation is for slower economic growth. Slower growth, plus there was a bigger than expected draw down in gasoline reserves and a smaller than expected build up in oil. There's talk of $4.00 per gallon gas at the pumps.

This was enough for stocks to start lower at the clang of the opening bell, pulling back after their recent gains. By 10:50 a.m. ET, the Nasdaq had fallen 0.7% and the S&P 500 had slipped 0.5%. NYSE volume was tracking about 3% higher and Nasdaq volume was tracking 2% higher.

The minutes from the March Federal Reserve meeting will be released at 2:00 p.m. ET. We'll see what, if any, difference that makes.

The iron condor position is unchanged. We have a bit more breathing room, but we're not yet out of the woods on this trade!


Christopher Smith
TheOptionClub.com