A friend of mine shot me an email yesterday to tell me he was getting in on Gamestop Corp. (GME). I asked why and he surprised me by having an actual answer. (This is my friend who says “You have to have balls to make babies” when discussing his trading model.) He likes it because…
Month: November 2007
Big Day
Today has certainly been a nice one across the markets, but I’m not jumping back in full throttle yet. In fact, I don’t plan to open any new positions until we can see if this is anything other than a dead cat bounce and a short covering rally. Obviously many traders were short on a lot of…
The Boeing (BA) Flight Continues
Within five minutes of me selling a naked call on BA it rose. I managed to sell at the absolute bottom. I haven’t had such bad luck on a series of transactions in years, so I’m trying to put myself out of my misery now. While BA was trading at 92.26 this morning (up over $5…
Dow Jones ($INDU) Chart – November 23, 2007
Just a few trading days ago I wrote about the upcoming 10% correction for the DJIA. We got that this week and then a few extra points past it to solidify the point and rebounded as I said we would. The remaining question is if the bounce was only a dead cat bounce. That’s the…
Baring it all on BA
I’m getting naked on my BA calls. I own 100 shares of Boeing (BA) already and have sold one covered call on it. A couple of minutes ago, when BA was trading at 86.96 I sold another call, this one is considered naked since I have no shares to be called away if BA rebounds. …
Saving Money on Car Service
Since my wife starts her new job within two weeks we are both trying to get all the little things done in our lives that take away from the focus and attention she’ll have to devote to that for a while. I’m following suit in the hopes that I’ll have a new job soon too….
Answering Reader’s Questions
I exchange emails with readers on a fairly regular basis and occasionally try to move the conversation to a blog post. One of the newer readers and commenters, Josh, sent me a few good questions that made me think. So, I figured I’d try to answer the best I could in front of everyone since others might be…
All Stocks Sold or Covered with Calls: DOX, GM, MRO, CAT, MOT
I am caught up once again. I dealt with all of my problem children within the first hour of trading this morning. I sold all of my DOX shares at 32.47. I won’t be surprised if it rebounds, but it was below where the chart said it should be and the premiums weren’t worth working…
To Cover or Not to Cover with Call Options
Have you ever been to a fun funeral? I went to one in college that was fun. The mother of an ex-girlfriend of mine died and I drove from Athens, GA to Charlotte, NC with three of her girl friends. I hadn’t hung out with a lot of them since we broke up and it…