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[Weekend Summary] Dear Member, Another good week for my trading account. I closed the short leg of my Motorola bull put spread when I bought the Dec 17 puts to close that leg. That move resulted in a 15% realized gain before commissions and I still own the Dec 16 puts at no cost. I was also able to close my naked put position on Armor Holdings (AH) and realized a $1.90 a share profit. I opened a credit spread on Ebay (EBAY) by selling the Jan 105 puts and buying the Jan 100 puts as protection for a credit of $1.00 per share. The return on risk for this trade is 25% before commissions if no adjustment is necessary. As long as EBAY stays above 105 until the close on the third Friday in January, I have nothing to do but count the money. I also bought the Jan '06 LEAPS calls (WNBAD) on Eresearch (ERES) and the stock has moved favorably since entry. My LEAPS on Siebel Systems (SEBL) are doing just fine and the Feb 60 calls on Harley Davidson (HDI)are gaining ground as the stock moves up. Although the first two weeks in December are often down in the market, things are looking fairly bullish at the moment. More than 2/3 of the Russell stocks are up over the last 30 days. The SP-500 is holding well above last winter's highs. The Nasdaq is right at the Jan '04 highs and resistance and a break above that level would seem quite bullish to me. The Dow is also currently toying with resistance at 10,600. I've really enjoyed the last two weeks in Hawaii. Plenty of golf, swimming with the dolphins, too much great food, and even a flying lesson in a helicopter! The increase in my accounts has more than paid for these wonderful activities. Back to the cold on Monday. I hope you have a super weekend! Bill
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