Market Summary
The November 14th Couch Potato Market Summary mentioned "... at this point we have to assume that the current price action is just a healthy correction in the context of a near-term uptrend. If stocks have another down week then we have to consider the possibility that the current bullish move may have reached a firm resistance level... " The best bet at this point is range-bound trading for the next few weeks. Senior traders usually are on vacation during thanksgiving week and the junior varsity is working the trading desks. The bears have not been able to mount a serious threat to the near-term bullish trend since the end of August. The recent price pullback should be considered a bullish sign because it gave the market the opportunity to absorb overbought conditions. Anything can happen but we probably won't get a reliable sign on market sentiment until the big boys return to work after the holiday.

SPY Position Update
SPY closed $120.29 on Friday – the November SPY iron condor finished approx. $2,100 in the black
SPY priced just ABOVE its current 14-day EMA (see SPY chart down below)
SPY is trading EVEN with its 20-day Bollinger Band SMA (see SPY chart)
SPY is ABOVE its 50-day simple moving average (see SPY chart)
SPY is also ABOVE its 200-day simple moving average (see SPY chart)
Relative Strength Indicator (RSI) is neutral (See SPY chart)
Moving Average Convergence/Divergence (MACD) is turning bearish (See SPY chart)

SPY Bear Call Spread
The October 21st Couch Potato recommended a November expiration month call spread
The November 16th Couch Potato mentioned closing out the call spread for an approx. $1,100 profit (see tables below)

SPY Bull Put Spread
The October 21st Couch Potato recommended a November expiration month put spread
The November 8th Couch Potato mentioned closing out the put spread for an approx. $1,000 profit (see tables below)

DIA Position Update
DIA closed at $112.01 on Friday – the November DIA iron condor finished approx. $1,200 in the black
DIA is priced just ABOVE its current 14-day EMA (see DIA chart down below)
DIA is trading at its 20-day Bollinger Band SMA (see DIA chart)
DIA is ABOVE its 50-day simple moving average (see DIA chart)
DIA is also priced ABOVE its 200-day simple moving average (see DIA chart)
Relative Strength Indicator (RSI) is neutral (See DIA chart)
Moving Average Convergence/Divergence (MACD) is turning bearish (See DIA chart)

DIA Bear Call Spread
The October 25th Couch Potato recommended a November expiration month call spread
The November 16th Couch Potato mentioned closing out the call spread for an approx. $650 profit (see tables below) )

DIA Bull Put Spread
The October 28th Couch Potato recommended a November expiration month put spread (see tables below)
The November 8th Couch Potato mentioned closing out the put spread for an approx. $450 profit (see tables below)

Exit Plan
We closed out our November SPY and DIA iron condor positions for a nice gain.

Final Comment
The November 17th Couch Potato published a setup for a December SPY put spread. Unfortunately stock prices gapped up the next morning and the trade was not available. We will go through the analysis process and plan on publishing December trades within the next few days depending on market behavior.

Gregory Clay

Couch Potato Trader Disclaimer
All results reported in this section are hypothetical. While the numbers represented here may have been achieved or beaten by our readers, we make no representation that any individual investor achieved these exact results. The tracking for the plays listed in this section uses closing prices for the day the newsletter is published and it is not meant to imply that any reader actually received those prices (though many often do) or participated in these recommendations (even though many do). The portfolio represented here is hypothetical and for investment education purposes only. It is only an illustration of what type of gains a knowledgeable trader might receive utilizing these strategies. If you don't get close to these results, guess what. It isn't the fault of the strategies.