Special Weekend Edition

Money is better than poverty, if only for financial reasons.

Woody Allen

I was reading a book this week about building wealth called The Millionaire Fastlane.

Inside he talked about wealth and gave three pillars of wealth. What struck me as odd (at first) was that money was not one of the pillars.

I had to give that one a little think.

And so I puzzled ... and I puzzled ... and I puzzled some more.

It helps that all this thinking was done while on a 90 minute walk and listening to the audiobook (does that still count as reading? I think it does). 

I came up with an answer and I think it fits in nicely with the three pillars he listed. In his words wealth is made up of:

  1. Family

  2. Fitness

  3. Freedom

Normally I would add “Faith” in there, but in thinking about that on the walk, I realized that it fits nicely within the framework of “Family,” IF I expand Family out to include all close relationships. That is: family, friends, and my relationship with God. By being blessed in these I have a wealthy Family.

Fitness is really health, but keeps the alliteration going.

Freedom is where the money sits, because money is merely a tool. We can use money to buy freedom, thus a free life is a wealthy life.

Those are all big, sweeping statements. Don’t get lost in the details.

One more note, I don’t consider myself wealthy yet. But I am on the pathway to wealth, working to build up these pillars higher and stronger each day.

All right, enough of that, let’s look at the markets.

Index Snapshot

See the Legend in the footer below

Not enough lipstick to make this pig look kissable! Yesterday was ugly. The implied volatility soared across the board and positions that did not expire worthless were rolled for some amazing premium. We may have had to roll them a few weeks and will need some patience until they expire worthless, but the premium was deposited in the account. What a great trading system!

Fear and Greed Index

We dropped from 54 to 29 in basically a day… must be October! Ha What a difference a “Tweet/Truth” makes! I don’t think we're at “blood in the streets” levels of fear yet, but next week should present some good opportunities to sell puts on some bargains if you have some dry powder.

Today’s Macro Headlines (Source: Yahoo Finance)

Tariff threats are back, and with crucial jobs data absent, there's little else to soften the blow.

Yahoo Finance

Why it matters …

We had a similar party back in April, I think. It will be very interesting to see where we are in two weeks. I was looking through a less blurry part of the broken crystal ball and saw the shutdown ended, another decrease in interest rates by the Fed, hostages released, and a market on the rebound.  It may be a delusion, but that seems likely. Keep trading the system, because it continues to work.

Report on Friday’s Expired Real Trades & Sample Trade Ideas

Real Trade Spotlight (Free subscribers):

Three real trades collecting $87 of premium for single contract trades. Average Return on Risk (ROR) = 1.52% for this week.

Sample Trade Ideas Spotlight (Free subscribers):

Average Return on Risk (ROR) = 1.38%

Sample Premium = $181 for single contract trades. 

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  • Spotlight on the Indexes

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