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June 13, 2018


As expected, the Federal Reserve hiked rates by another quarter point today. In their release, they also hinted on a 4th rate hike this year, up from three. The markets were slightly negative after the news but drifted lower into the close. The Dow gave up nearly 120 points while the S&P500 and NASDAQ closed 11 and 8 points lower, respectively. The markets have been on a quiet rally lately and a pullback has been expected for a week or two. We will see if we continue lower as we end the June expiration cycle on Friday. Our positions are expected to expire worthless, realizing the maximum gain on the trades.