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…
Month End Summary – November 2008
I continued my horrid slide to new lows in November, but I found a glimmer of hope over to end the month with a massive rebound. My account briefly fell below the balance I had in my account at the beginning of 2007. That meant that all of the monthly deposits I sent in to TD Ameritrade…
Humor – Economic Double Entendres
CNBC is starting to sound like late night Cinemax with all the double entendres. I think I heard this report last night and actually double checked to see if I was still on the business channel. Female Anchor (FA): We are going to need a really big package to make this worth the effort. Male…
Sold CMI Covered Calls
I’m starting to face reality and realize that the world’s economy isn’t coming back in a snap. That means I’m selling some covered calls at lower strikes than I was planning to. If we do get a bear market rally, I figure I should sell while up. These lower strike covered calls will force my hand. …
Sold JOYG Covered Calls
I added another set of covered calls to my account this morning. I made the mistake last month of buying my JOYG November 25 calls back early only to see it fall back as low as $14.30 intraday as recently as November 20th. It made it back up to $17.55 by November option’s expiration, well below my…
Sold New Covered Calls – CELG and AA
After making the trades this morning I took a break to see where the market would go. I also spent a little time actually doing my job. I know – what a thought. I got a little worried about where the markets were going over the next few weeks and decided to throw some orders in…
Exiting Stocks – TDW, USO, QCOM
I should’ve sold USO yesterday afternoon after it was up $4.00+ for the day. Instead I waited for it to fall some today and I sold 300 USO shares at market at $42.6802 and paid $12,793.99 with commissions. I’ve been losing big on oil for a while expecting it to flatten out. I haven’t seen that happen and…
Closed SSO Position
I sold my 200 SSO (2 x S&P 500 ETF) for $24.64 and received $4917.98 after commissions at 3:45 this afternoon. It hit $24.83 a few minutes earlier and once I saw it starting to turn south I jumped out with a market order. I feared a limit order wouldn’t trade quickly enough in a falling…
Sold New DIA Naked Puts
I’m long two DIA December 84 puts (DAVXF) and have been selling naked puts at lower strikes for the past couple of months with the long puts as my hedge. This morning (wish I did it on Friday) while DIA was trading at $82.18, I sold to open two DIA December 78 naked puts (DIJXZ) at…