This stock market rips everyday.  Covid 19 is still a factor along with 20 million people without a job and people dying everyday.  It just doesn’t matter with this stock market.  The new way of living in the new economy will just not make these companies the same money before the virus started.  But yet, we are just 12 percent of the all time highs and 35 percent off of the stock market bottom.

Since we are up more that 20 percent, I guess it’s safe to call this a bull market.  But it is the strongest bull market I have ever seen.  We are up 30 percent in 34 days.  That’s 10 percent for every ten days are about 1 percent a day.  That is truly incredible.

Knowing this, I still decided to sell an Iron Condor yesterday.  I put it on because I think the market is going to stall at a popular Fibonacci level, which is the 61.8.  I figure it will stall long enough for me to get some theta burn and get out.  Well, after I put it on, we got another 600 point rally and with that, the call side looks like the one to get tested first.  Although the short call is still at a 13 delta, the whole side is making me nervous.  That because I sold it at 10 yesterday.

Looking at the aftermarket of Tesla, Microsoft, Facebook, Twitter all ripping higher, tomorrow the averages will inch even closer to my short call.  Oh well, I guess you just have to watch me complain in the video.  You can also see the moves I put on to ease the pain to the upside.

Thanks for watching.  If you have any questions or comments please leave them here if you can or in the video.

BTW, nasdaq looks strong.  It actually looks like we will reach an all time high.  Maybe that will be the top.