[Weekend Summary]
Dear Member:
As the earnings season begins, the markets are looking strong. The Dow, NASDAQ, and SP-500 all broke resistance this week. Next week will be a short trading week with the holiday on Monday. Equity options expire on Friday.
I entered a new LEAPS position on Micron (MU) this week. The stock is up since my entry.
Sirius Satellite Radio (SIRI) had a strong week and I rolled out my January '08 $2.50 calls to January of 2009 for a net debit before commission of $0.25.
BBH made a strong move this week and is looking good.
Anadarko Petroleum (APC) and SPY were up for this week while Citigroup (C)dropped a bit. All of those spreads are in satisfactory positions.
I rolled down the short call leg on my NVIDIA (NVDA)spread to capture a profit on the $37.50 leg and to add additional cash. The short leg is right on the cusp and I will have to stay on top of this position as it heads for expiration next Friday.
Have a great weekend.
Bill
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