Markets are reacting to a renewed perception that economy is NOT improving as fast as hoped/predicted...I beg to disagree completely......we are on track for an expected improvement in Q3 & robust Q4......
Media CAN give any picture it wants.....
Politicians like Joe Biden will say anything "to take the heat off".....
We are coming off from a horrendous recession close to depression......uptick is quite remarkable already......
Markets are @ the same level as last October of 08...while we HAVE made major inroads in financial stability...which everyone IS ignoring......
Loans are being made...
Mergers are a reality....
Autos are READY to ramp UP.....
But.... we continue to focus on issues which ARE lagging indicator..like Jobs.....most economist KNOW that JOBS picture will NOT improve until Q4...no surprise there.....
Gold Down $9.10 to $921.60..support zone
Oil Down $2.41 to $64.32..near major support
Canadian Up 10 tick against US$..as it has found support
In my portfolio :
I am allocating MORE than my usual trading $$$...as I am OPTIMISTIC about potential GAINS from current level......
Bought IPI
Portfolio is IPI,MRVL,SOL,TLM......
@12.06 following are green :
NDN,V,ICE,VAR,AMTD,FXI......so far $$$$
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hello My Friend Saleem
No I did not factor in last months premium.
I guess that I should!
I will take a look at it today again.
So many variables to consider and as Standards says coverd calls expire July 17. Hmmmm
IMHO we will close green today! I think.....
SMile all
Hi Madmax,
Thanks for your optimistic note for close today....
Options expires on 3rd Friday of each month......
Saleem
Hi Madmax,
Yes you got a nice premium last month. You can think of it as a nice monthly dividend or use it to lower the basis of your stock purchase. I'll be doing it much more in the future if stocks remain flattish. You can even write naked calls. Risky!
Best Regards
I sold 10 cover calls today at .21 each for July 17 calls.
Still have 12 calls to write if I see some premium gains
I would love to do better than .21 cents.
I thought the bull and bears fight today would result in short covering--not to much
the RSI is 34 should support a move up
thanks Standards and Saleem for encouragement
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