Dear Member:
The markets gave off some mixed signals over the past week. Each major index was down slightly but on lighter volume. At the same time, each broke the recent up trend line. However, at the same time, volatilities were flat to declining, which often is a bullish signal. It is a time, again, to wait and see what's going on.
I was finally stopped out of SPY for a $4.00 a share gain, 21.5% before commissions. This was a nice return and a longer term trade that lasted around 11 months. That, incidentally, is a fairly long time for me to be in a position.
Sirius Radio (SIRI) was flat for the week. Sanmina (SANM) bounced back up to the price at which I entered my Leaps.
CarMax (KMX) finally showed some weakness which is helpful to my puts positions. It was down nearly a $1.00 for the week.
Citigroup (C) was down for the week helping the shrot leg of my spread gain profit.
XLK, the tech ETF moved sideways for the week.
Finally, the Biotech tracker (BBH) was down for the week and is in a position where I can now either roll out or sell some shorter term calls.
Have a great weekend!
Bill
|
