I charted the daily prices for the past three months on the Dow Jones Industrial Average ($DJIA, $INDU, $DJI, the Dow) after the index closed for the week at 14,578.54 on Thursday, March 28, 2013. The green area shows the current trading channel locked between a trend line of higher highs and another trend line of…
Month: March 2013
Russell 2000 Index Chart – Overbought?
This Russell 2000 ($RUT) chart shows the past 6 months of daily prices after the index finished the week at 946.27 on Friday, March 22, 2013. I called a bottom on the Russell 2000 index the last time I charted it and said to expect a bounce within two to three days. That was four days before…
UCO and AAPL Adjustments
So much for patience. My plan to wait on selling covered calls on UCO didn’t last more than a few trading hours. At least I’m glad I waited overnight, because UCO moved more than 1.7% higher this morning from yesterday’s close and the call option prices came back to more acceptable levels for my needs….
SPY & UCO Clean-Up
I placed a limit order (Good-Til-Cancelled) two weeks ago that finally started to hit today. The bid/ask for my six UCO April $35 calls was $0.05/0.15 at the time, with the last trade at $0.05. I figured I could rewrite new/better covered calls if I could get out for a nickel more than a few…
Dow Jones Chart – Overbought, Again?
I charted the daily prices for the past six months on the Dow Jones Industrial Average ($DJIA, $INDU, $DJI, the Dow) after the index closed at 14,514.11 on Friday, March 15, 2013. The second indicator that is the distance the Dow Jones has moved from its 200-day moving average (dma). The Dow is getting overextended at…
Options Expiration – March 2013
This has to be one of the most boring quarterly options expiration days that I can remember. The market didn’t know what to do with itself after such a long rally and didn’t do much. The morning trade looked like it might finally turn into the start of a decent profit-taking day, but by the…
Closed 3 Puts & Opened 1 Naked Put
I’m a few days early for spring-cleaning, but my trades today kind of felt that way. I had a few positions that just needed to be dumped. They weren’t doing much for me and I saw no reason to keep them. I also saw an opportunity with EEM triggered a trade for me. I’ve been…
S&P 500 Chart – March 8, 2013
I charted the monthly prices for the past six months on the S&P 500 index ($SPX) after the index closed at 1,551.18 on Friday, March 8, 2013. As the S&P 500 passes its fourth birthday since it bottomed on March 6th, 2009, it is approaching its all time high of 1,576.09. The large cap index doesn’t show…
New Approach with QQQ and AAPL
I’ve been eyeing puts on AAPL again for the past few days. If I had stuck with my strategy from last year and kept repeating it, I would have made up for my losses. Instead, I backed off and waited for AAPL to settle down. I don’t think it has settled yet and so I…