GDP Worse Than Expected, Treasuries Fall

Afternoon all. It’s been another one of those flat days. We should all throw a going away party for the month of May as it’s been a “go nowhere” month. Depending on when you are looking at the charts the market could be up or down. GDP came in worse than expected this morning and treasuries still show very large signs of weakness which has sent the dollar spiralling downward. All in all, it should make for a bit of a move lower – but that has not been the case yet at least. 

For most this is probably just agonizing to say the least. I personally am finding that it’s giving me more time to update positions and build new watch lists of future trades – always a good thing. If anything, all traders out there should be positioning and looking for new ideas and opportunities. In addition, I can’t be that mad at May because it’s been EXTREMELY profitable for the Option Writer. I’m glad that Members and I have a couple longs in our portfolio that are doing great today. Here is a chart of the madness that has been the month of MAY.