When I wrote this letter to my eleven year old son, I had no intention of sharing it with anyone but him. But after I wrote it, slept on it, then revisited it this morning... it dawned on me that there are lot of traders and subscribers...
After slowly dipping my toes last week into the idea that it might be time to start getting into some new long exposure, the market's reaction to the latest Federal Reserve action tells me the direction is still sideways until further notice.
The post-fed interest rates decision hangover this week has thrown stocks back into the sideways slop zone. Therefore, until conditions change, we're going to keep selling premium to ride this out.
