There is not much good news out there.
   Just 38 percent of S&P 500 companies beat expectations on revenue in the past week, compared with 41 percent since the start of the reporting period, and well below the 62 percent long-term average.

   Based on results from 116 companies and estimates for the rest, earnings for S&P 500 companies are expected to decline 1.8 percent from a year ago - the first such decline in three years. Without Apple, that decline would be about 2.3 percent, according to Thomson Reuters earnings analyst Greg Harrison.

   Outlooks from U.S. companies have added to worries.  So far for the fourth quarter, there have been 17 negative outlooks from companies, no positive outlooks and one in line. That compares with 11 negative outlooks, two positive outlooks and two in line at a comparable period for third quarter guidance

   So how did I we do for the seek?  Only had two trade recommendations and I did 20 options in each.  First on Thursday morning I announced that I was selling the AALP 655/660 call spread for .14 credit .  This trades worked perfectly. I also announced at the same time that I was selling the AAPL 610/615 put spread for a .07 credit.  Even thought the stock was still going down according to the bollenger bands. Hind sight is a beautiful thing because late Thursday that spread was only .04 credit.  So what happened?  Friday everything looked OK till about 1:00pm when AAPL continued to decline and my rule #3 says if your premium doubles get out and that is exactly what i did.  I closed the spread out @ .14credit for a net loss on the put spread of .07.  Net results for the 2 days of trading options was net 7%.  Still ok but not what I was expecting.  This week was a lesson of remembering the rules.

I am trading weekly options to help you grow your portfolios a little each week. We are either making money or not losing money.  Thank you for letting me serve you, I consider it a privilege to work with each of you.  I strive to make a successful trade one week at a time, 

 Are you making money? If not why not trade with me. Remember the goal is to make money NOT lose money . . . Duh . . . . . . . Take a look and see how Slow Money Option Trading went https://docs.google.com/spreadsheet/ccc key=0AjgjBJLwH3rdERid3A0RE1GRFlyaHB0S0VxbHc0Vnc&authkey=COb7xdMJ 


Remember if your not a paid up member of the Fast MoneyTradingTeam you will not get the weekly Slow Money Option recommendations. Yes, I expect to publish Wednesday,Thursday or Friday my weekly option trade to the paid up members.