Reminder that let’s do this week’s livestream Q&A Chat today at 2pm ET. You can talk to me using The IAm Cody Willard App for iOS and Android and you can engage with me live on my youtube channel. I’ll also take questions over the phone on our conference call line (Dial-in: 641-715-0700 Access Code: 709981), in the Trading With Cody chat room or just email us your question to firstname.lastname@example.org.
As for the markets…well, markets have indeed gotten volatile. Volatility can mark market tops. Volatility can beget more volatility. Volatility is as volatility does.
I’m dizzy with the swings lately, how about you guys? Imagine how the people/traders/investors who were blindsided by this recent sell-off and volatility must feel!
Here’s a few questions and answers from the Trading With Cody Chat Room this morning to get you guys warmed up for the livestream today.
Q. Cody, I just joined the TWC for life! After 8 years of being a subscriber. So I am taking the long view and I am in! It has been a bumpy ride at times…art not science and I appreciate your honesty around Family, Politics, and the market! Keeping it real and with lots if compassion for what is important in our lives.! I am reflecting about how Cody can help me keep in perspective the action-in-the-moment …like the earnings sell off to APRIL SHOWERS BRING MAY FLOWERS.
A. Thanks for the kind words and yes to flowers.
Q. Thanks for today’s note. From that, while you say markets could put in some near-term bottoms somewhere down the line if earnings season keeps going the way it is, you also say our Bubble Bull is “awfully late cycle at best”. Does this mean once it ends it’s time to bear-up for another 2008-like crash… or that we will have to be selective with our stocks (not “sell ’em all”) because you anticipate that we may trade more sideways going forward?
A. Great question. I wouldn’t word it exactly this way as the markets could have lots of other outcomes, but essentially, the latter is correct: “We will have to be selective with our stocks (not ‘sell ’em all’) because you anticipate that we may trade more sideways going forward?”
Q. Hi Cody Thank god for those puts that you suggested They really helped a great deal With regard to the fact that they will expire on May 18th. Do you have a suggestion as to what we should contemplate doing? Namely they have value so should we sell all and repurchase new puts with a later date and amount? Would appreciate your suggestions.
A. Thanks. Well, for now I’ve just been trimming my puts down when the market action gets panicky. I’ll probably continue to trim them down if the markets hit new lows, but for now, I’m comfortable holding the puts we’ve got.