The last time I charted the QQQQ I was close to dead on. That’s been nearly two months so I figured I should try my luck again. This time I drew the weekly one year chart. Two months ago I said the QQQQ was due for a slight pull back before continuing its bull run. It pulled…
Marathon Oil (MRO) crushes through ceiling
Check out the stock chart for MRO below. 60 has been a key mark over the past six months as you can see from where I circled the points in red. Today, circled in green is the point where MRO has broken that trend. That could mean MRO is ready for another run towards new…
NVDA Falls and I Sell Naked Puts
I watch Mad Money about once per week these days. I happened to catch Jim Cramer’s episode at the beginning of last week when he said this about Nvidia (NVDA): “Nvidia has come up with the single best killer chip. That’s why every time that stock is down, I use that as the chip of…
Misleading Headlines – Read the Full Story
I checked the futures this morning and saw the markets were headed higher as Motorola (MOT) helped lead the way. Since I sold five naked puts on MOT worth nearly $10,000 in underlying value (12% of my account balance) last week and was in the money on them after yesterday’s close I was excited to see such…
Good Debt and Bad Debt Planning
The debate over good debt and bad debt may never be agreed upon. Pick any day and you can find an article written about the benefits of borrowing money to fund certain major purchases such as a mortgage for a house or a loan for a car or something more frivolous. I’m adding to the articles that do not think debt…
AXE Misses Estimates
Anixiter International (AXE) is taking a beating this morning during its earnings call. 3Q income declined by 15%. They plan for more of a slow down in Q4 too. The stock was down by over $6. While my November 75 naked put is still out of the money, I decided to cut my potential losses…
Buying Stocks in my IRA
Not that I focus on my IRA here, but I just made two trades that I hope will perform well for me. I bought 300 shares of CSCO at 31.40 and 200 shares of EBAY at 36.62. I have mentioned a couple of times that my IRA hasn’t performed as well as my brokerage account. …
Stocks Picks and the Put/Call Ratio
I haven’t made it through this week’s Barron’s yet and don’t see it happening. I read more than half of it, but couldn’t get into it with most of the stocks they highlighted. I was surprised to see Michael Santoli moving away from being a solid bear and even hinting towards a bullish lean soon. I…
October Option Expiry
As I mentioned earlier, October was another very good month for me. I had options on NYX, AAPL, CHTT, JOYG, PCU and CRDN. All finished out of the money for me, even after the strong pull back last week. I never even had to do a gut check on what was happening with so much…