[Weekend Summary]
Dear Member:
The markets were mixed for the week and the NASDAQ broke down through a recent support. While the sky isn't falling yet, a careful eyes should be kept on the indices as we get closer to February which is often a lackluster month.
BBH yielded a nice $2.60 profit before commission on the January '08 calls. That was partially offset by a loss on the NVIDIA spread of about a dollar which I had adjusted a couple of weeks ago. Unfortunately, the adjustment was not good enough to place this trade in the profit column. Overall, though, the week was profitable.
I entered a put position on SanDisk (SNDK)this week and the stock has drifted down a bit since my entry. If this one can break below $42 a share, it might be a good ride.
The Anadarko Petroleum (APC),SPY, and Citigroup (C) spreads are all doing fine.
Sirius Satellite Radio (SIRI) made a nice run at the beginning of the week but then retreated. I missed selling calls against my $2.50 LEAPS before the downturn, but I'm sure there will be other opportunities as time goes on.
The oil related stocks seemed to be regaining some life. Otherwise, I am tending towards the bearish side.
Have a great weekend.
Bill
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