|
|
stock share, buy stock
[Weekend Summary]
Dear Member:
Another interesting week in the markets. Each of the major indices (Nasdaq, Dow Industrials, and SP-500) showed gains though the S & P only managed a point. More importantly in my judgment, each is now coming up to major levels of resistance. The Dow is again moving toward the magic 14,000 test, the Nasdaq 2725 and the SP-500 1553. Only time can tell us how each will react to these important levels, but we should find out soon.
Finally, a more active week for me! On Monday, I bought LEAPS calls on Shanda Interactive Entertainment (SNDA), sold part of my position on Tuesday and the remainder on Wednesday for an overall 2 day return of 5.3% before the slight commission.
I had bought LEAPS calls on Nvidia (NVDA) the previous Friday and sold half my position this Thursday for a $1.40 a share gain on the closed contracts. The stock is in new high territory for the year and even with the little pullback today remains in a strong uptrend.
As the Nasdaq climb continues, I sold some short term Oct 50 puts to create a diagonalized calendar spread with my Jan 45 puts. That move brought in 45 cents a share and what I sold was all time value that should diminish more and more rapidly as we near Oct expiration so that I should be able to buy back the Oct 50's for less than I got to sell them.
The Citigroup (C), Sirius Satellite Radio (SIRI) and SPY spreads are all in positions that are satisfactory to me for now.
Thank you for subscribing and have a good weekend.
Bill
|
Home |
Subscribe |
All Rights Reserved |
Privacy Policy |
Advertising |
Contact Us |
Terms of Use |
Disclaimer |
Links
|
stock share
buy stock
|
