That was a miserable week indeed. Panic about Greece, next week's Fed meeting... and we're basically in the same spot we were in last week. We are coming up on expiration next week and the only positions that have been flirting with the idea of maybe being in the money are EMR and GE.
The FOMC meeting is on June 16 & 17 and it will come with a "Summary of Economic Projections" and a press conference by the Chair. Those summaries happen every 3 months they include information on thew board members' position on "Appropriate timing of policy firming" and the target rate for that "firming". In the March summary the count was 15 for 2015 and 2 for 2016. Seven of the 17 members had that rate at 0.625% in March.
What's it all mean? Range bound volatility and a slowly strengthening dollar.
Even with two horrible weeks in the books, the portfolio and what looks like a sea of red my cash position of just over $13,000 coupled with small gains in EMR and GE leave the net gain at $8,912 for an average monthly gain of 0.91% or an annual rate of 11.48%.
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