It is more than obvious, that panic selling into close yesterday, was reflective of "poor analysis".
EU has taken its task very seriously, to deal with their failing structure. 26 countries have given clear indication of approval to sweeping changes in budgetary discipline.
Wish US politicians can show the same willingness to "resolve crisis @ hand"
S&P high today was 1258.25, closing @ 1255.19
Gold closed @ $1716.80
Oil closed @ $99.41
VIX crashed today to lowest level in a long time, Down 13.76% @ 26.38...sign of new highs in markets.
Internals of the markets were as follows :
UP volume led by 10.60 to 1 in NYSE & 9.27 to 1 in Nasdaq
Advancing stocks led by 5.94 to 1 in NYSE & 4.76 to 1 in Nasdaq
New 52 wk highs are in the lead, 86 in NYSE & 37 in Nasdaq
Stocks which moved UP 2% or more included BIDU,LULU,RVBD,
CNQ,CLF,COH,FCX,APKT,
NTES,FFIV,QCOM,CRM,MA,TSL,
TCK,MS,JDSU,FNSR,C,CRUS,ARUN.....
In my portfolio :
Sold PCLN
Added 75% LVS @ $44.10
Bought CNQ @ $37.00
Portfolio is BIDU,CNQ,LVS,LULU,M,RIMM,RVBD,SNDK
Next post by 2 PM Sunday.
BLOG does NOT give buy or sell.
Saleem
4 comments:
SALEEM
Good afternoon
I have a question
My APPLE $365 call expires very soon Dec 20, 2011.
Should I roll it into the Feb deep in the money calls
or just close it out and be happy that I get something from closing it.
It has not performed as I had expected it would
Thoughts please
Thanks
Have a great weekend to all
Hi C,
Option is for extremely short period, like 2 days...IF its not working then you should close & move on.
This market is very volatile, option is not recommended.
Try to closed it ASAP.
Good luck with your decision.
Saleem
Hi C,
Please understand Option Expiry..i had given you expiration definition before..
It is ALWAYS 3rd Friday of the month....
Your Option Expires on 16th DEC..
You have 5 working days LEFT...
You must decide before market closes on Friday the 16th..or else you have to buy it for about $40,000....
Make sure you have EXTRA $40,000 in your trading account @ the end of business day on Friday the 16th.
Saleem
Saleem
I did not know that I was stuck with the stock if i did not close the position prior to the 16---Ouch
In any event I will close it by Tuesday--hoping for pop
in APPLE before then
Saleem thank you for taking the time to reply to my question. I never though that I would get stuck with the option being under water for so long--I got caught in the market down swing and APPLE has not recovered. I guess I got to greedy hoping that I would see $426 stock price again or higher.... never did recover that
Thank you again for advice and support you are a true friend -- and yes I need to be reminded about options
and how to better use them--so bare with me..
C
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