I charted the daily prices for the past three months on the MidCap 400 index ($MID.X, S&P 400) after the index closed at 1,160.82 on Friday, June 28, 2013, the last trading day of the week, month and quarter. The 20-dma acted as support on Thursday and then broke intraday on Friday, but the midcaps couldn’t…
Month: June 2013
Dow Jones Chart – Now What
I charted the daily prices for the past six months on the Dow Jones Industrial Average ($DJIA, $INDU, $DJI, the Dow) after the index closed for the week at 14,799.40 on Friday, June 21, 2013. A month ago, I pointed out that the Dow was looking fragile and we’d likely see a better buying opportunity within three…
Options Expiration – June 2013
The only options I had left going into today were on QCOM and it was just two of the same contract. My two QCOM June $65 covered calls expired worthless and left me with a full profit on the $381.82 I received two months ago when QCOM was trading at $63.86. I expect QCOM to…
Exited EEM
Short and simple – I had to cut my losses on the emerging market ETF (EEM). EEM has been dropping steadily for a few weeks. I should’ve closed my position earlier, but didn’t. Finally, I bit the bullet and dumped my puts today. While EEM was trading at $39.38, I bought to close three EEM…
$SPX Chart – June 7, 2013
I charted the daily prices for the past six months on the S&P 500 index ($SPX) after the index closed at 1,643.38 on Friday, June 7, 2013. After the Williams %R indicator raised red flags two weeks ago, the selling pushed the index further below its 10-day moving average (dma) and then below its 20-dma. By…
Jumped in with SSO Again
I got caught wishing and wanting this morning. Once the S&P 500 (SPX) started moving south a couple of weeks ago, I was counting on a little better correction than we saw. I was wishing for a better dip because I wanted to load up even more on stocks. I was wishing for a bigger…
Deeper in with QCOM
I like days like today. The market is down more than 1.3% and my account is down less than half a percent. I’m running like this because oil is up (although it’s off its highs) and my short options aren’t costing me much. I do have a couple of in-the-money options on T and DIS…
End of Month Summary – May 2013
May looked like it was going to be a great month for me as equities of all shapes and sizes rose nicely. However, I hit a snag with my growing oil position as prices dropped again late in the month. I expect the oil dip to be short lived. It might go a lower than…
Dow Jones Chart – Has the Correction Started?
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 for the week at 15,115.57 on Friday, May 31, 2013. Traders have been begging for a simple 5% correction for months, but the Dow Jones Industrial Average has continued to push higher…