Indices opened strong on Chinese economic news & Basil agreement to improve balance sheet of all banks....
All indices are above 200 DMA......
S&P 500 went to 1123.87 which makes it higher highs in current session BUT it is lower than previous peak of 1129 & 1131.....
RSI in S&P 500 went to almost 63..which IS in overbought zone.....
Gold UP $1.50
Oil UP 57 cents
Canadian $ UP 71 tick to 97.11..went near high of the year this AM.....
In my portfolio :
Sold covered call on my LVS position Sep 32 call @ $1.02
Shorted AAPL @ $268.08.....my first venture into shorting..hoping to close my short before close.
My portfolio is LVS,Short AAPL......
Most stocks are UP.....
@ 12.54 following are RED :
VMW,KGC,POT,YGE,MA,V,ASIA,
SNDA,JRCC,GAME,BRCD,ABX,
SPWRA,SNE,FWLT....
BLOG does NOT give buy or sell.
Saleem
5 comments:
SALEEM
Your shorting APPLE--wow
What gives with that?
ANy news to make APPLE fall/
I read nothing bad -- at all
Best to all
M
Hi Madmax,
Everything is "great" with AAPL..BUT market is "overbought" & Option Expiry on Friday...
As AAPL is "heavily weighted" in Nasdaq...so when nasdaq goes down for OE..AAPL has to go down....
Saleem
SALEEM
So far the market seems to be showing resilenance Up and strong
Do not know if this will hold out for the week as we are up a lot
Time for profit taking
Cheers
Saleem,
I sold my portfolio and will be on the side line for the rest of the week.
Good luck to all!
Michael
Hi Michael,
Not a bad strategy..considering that market is creeping deeper into "oversold" territory......
I will keep tinkering with "shorts" & close out daily....
I am extremely "defensive" also...only 1 stock & that also covered with call...
Saleem
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