Portfolio Summary – May 19, 2008

I updated my current holdings page. Here’s a screen shot of my account as it stands today.  I only have June options remaining and two long positions which are both covered with call options.  I could use one more June option before I start selling July options, just to better balance my account evenly between the two months.  The trouble remains that with the VIX and VXN so low that I’m not seeing the potential percentage returns I’d like to see on one month out options.

 I updated my list of stocks divided by sector and industry.  I try to do this on a regular basis to make sure I’m not over extended in one particular arena.  With all 800 shares (nearly $20k) of NVDA being called away, I’m much better balanced now and don’t have too much exposure to any one sector or industry.  This is ideal.  I’m actually free to trade on any stock, regardless of industry right now.  I had been holding back on any new technology trades for a while.  Not too long ago I was over weight in Industrial Goods too.  I might add another there.

As I said in yesterday’s post, I’d prefer to see a slight pull back before I get in much deeper.  That opinion will have to change if we see the S&P 500 close over its 200 day moving average with another day or two confirmation follow it. 

Here’s my sector/industry break down:

DIVERSIFICATION Sector/Stock – Industry
Services
  DIS – Entertainment – Diversified
  SFLY – Consumer Services (sold naked calls on this one, essentially short the stock)
Technology
  VIP – Wireless Communications
  AAPL – Personal Computers
Industrial Goods
  FWLT – Heavy Construction
Healthcare
  CELG – Biotechnoloy
Basic Materials
  MON – Agricultural Chemicals
  AA – Aluminum