By Lawrence G. McMillan
The feature article discusses various trading strategies and systems around Thanks-giving Day. The article culminates with the recommendation that we already made in previous Hotlines: to buy “the market” at the close of trading on the Wednesday before Thanksgiving. The article provides some new ways of looking at the entire trade, including holding longer than we have in the past.
Our market opinion is bullish, in line with the seasonal positives, as well as price and volatility action of the S&P 500 Index.
On page 7, we take a look at some of the other years in which the Heating Oil-Gasoline spread was stopped out for losses. A re-entry may be possible, but not for a while.
A naked put sale in YUM is recommended on page 8.
Page 9 contains trades in AUXL, mini-Wheat, and the Gold futures options, along with two put-call based put purchases.
On page 12, we offer some insight as to why $VIX settled sharply higher at Nov expiration.
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