I haven’t traded since last week, but have seen a huge increase in my account value since the month started. I still have $7,263.07 on margin, but my account value is up to $52,158 from the lows I hit in November in the low $30k range. A lot of that is in thanks to the run DRYS has…
Month: December 2008
DJIA Chart – December 5, 2008
The Dow Jones Chart ($DJI) I drew ending on Friday shows two big trend lines about to meet. This means one of the trend lines will have to break and whichever side gives should lead to a decent sized move in that direction. A couple of weeks ago as part of my November 21st Dow…
Sold CELG Naked Puts
While CELG was trading at $50.84 I sold to open two CELG December 50 naked puts (LQHXJ) for $2.55 each and received $498.50 after commissions. I sold within a couple of cents from CELG’s low of the morning. If that support holds is yet to be seen. I’m long 200 shares of Celgene Corp (CELG) already…
Bought FCX Put Options
I own 200 shares of Freeport-McMoRan Copper & Gold Inc (FCX) with a pre-option cost of $72.50 each. I started this position by selling naked puts and have sold covered calls a couple of times since then. I waited since the last covered call options expired out of the money and didn’t bother selling new ones yet since I…
A Recession, Oh Really?
I can’t imagine that anyone, not even those who aren’t part-time investors, didn’t know we were in a recession. Among the many articles on the topic out there, MarketWatch posted some interesting thoughts. Here are mine mixed in with their few highlights. The shortest postwar recession lasted only six months, The longest was 16 months…