Well the last two weeks of December are traditionally quiet for stocks, but traders accustomed to a bit of time off are staying close to their mobile devices, thanks to the "fiscal cliff."

Last-minute negotiations in Washington on the so-called fiscal cliff - nearly $600 billion of tax increases and spending cuts set to take effect in January that could cause a sharp slowdown in growth or even a recession - are keeping some traders and analysts from taking Christmas holidays because any deal could have a big impact on markets.

Republicans offer tax increases on the richest Americans over $1,000,000.00 in income, but--President Barack Obama is not ready to accept a new offer from the Republican leader of the U.S. the House of Representatives to raise taxes on top earners in exchange for major cuts in entitlement programs, sources said late Saturday. Turmoil, turmoil, and more turmoil.

What is you opinion? I would like to hear.

 

So how did SLOW MONEY OPTIONS do for the week?  Announced four trade recommendations.  We got a 3% & -6% on SPY trades. On the two AAPL trades who would have believed it but we did get a 19% on the call spreads and a scary 7% on the put spreads.  So what happened on the SPY? Almost as soon as I put on the Spreads the markets started to drop.  I have said before watch the bollenger bands and put one side on then the other.   Remember my rules?:
                       

                            MY RULES . . . SLOW MONEY OPTION TRADING:

      #1 If you receive a 50% return the 1st day take profits.

     #2 If your position goes to .01 credit and there is more that 1 day till expiration close position.

     #3 Risk no more that 2 times you collected premium.  If you collect .05 risk to .10

     #4 Trade at top and bottom of Bollinger bands

     #5 Remember time value is on your side.

     #6 Once price is established DO NOT chase.

     #7 Always take the more conservative trade.

     #8 The later in the week you take the trade usually the lest risk.

     #9 More rules to come : >) Keep it simple

     #10 Put your own rules in play.

     #11 Roll as you last option.

That advice would have worked flawlessly if it had been headed.  But I didn't and I cant explain why I did not follow my own advice in doing that.  So I have to say it is what it is.  Remember always do the more conservative spread is the reason that I give you choices.  What I do is take all my recommendations just split the money between choices. You can trade just enough to give you an extra days results of trading or trade enough to give you a weeks worth of trading.  The choice is yours take responsibility.

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.