This morning's selloff has taken SPX out of entry range for the weekly Iron Condor.

The bears are out in full force this morning after closing yesterday at the lows of the day. As of this writing SPX is down 23 points. The guidelines for the weekly SPX Iron Condor call for "NO ENTRY" if SPX has moved one standard deviation in either direction. According to my broker's calculation, a one-day standard deviation is 21 points. Even if there is a recovery later today, I feel it is too risky to enter the weekly Iron Condor.

It is not recommended to enter a weekly Iron Condor for the December 4 cycle today. It is not worth risking the good track record we have this year to jump into such a volatile market with a short term trade. We will sit on the sidelines this weekend. I will publish the 2015 results for all the Couch Potato trades early next week, and we will consider entering the first weekly trade of 2016 next Thursday if the market is within the guidelines.

Remember the proverb I have quoted before: "Infinite Patience Yields Immediate Results."

For those unfamiliar with the strategy, the trade management guidelines for all the Couch Potato strategies were updated on August 20, 2015, and can be found here: Link to Articles

As always, stay keen on your risk management and trade carefully,

Dot Hazlin