1,220 still seems to be the magic number for the S&P 500’s ($SPX) resistance. This morning’s start was good enough for me to add some more exposure though. I started with adding more UCO before lunch. I am long 300 shares already with a three covered calls at the January $40 strike. I’ve been debating…
Sold New AFL Naked Puts
AFLAC, Inc ($AFL) has been on a nice run since it bottomed out recently. Sadly, not far from the bottom I sold covered calls at the $36 strike for November only to see AFL run up past $36 and send these covered calls in the money. I thought about buying them back, but decided to…
S&P 500 Chart – Head and Shoulders Pattern
This S&P 500 ($SPX) chart shows the past three months of daily prices after the index finished the week higher at 1,155.46 on Friday, October 7, 2011. The large cap index has been stuck in a trading channel for two full months now with the extreme top side around 1,230 and the bottom plumbing a new…
Cutting Downside Risk, Again
I expected the S&P 500 to hold support above 1,100 and when it tripped lower at the end of the day yesterday I decided to cut more exposure this morning. I started off with my biggest risk, VXX. The VIX could easily ease off from these levels, but with the insanity going on this week…
2011 Stock Picks Contest – Q3 Update
At least I started the stock picking contest near the top and isn’t that what matters? No? My high hopes have been dashed with the demise of my picks in the third quarter. I’ve slipped in the ranks to the bottom third and still hold out hope that my ridiculously bullish and aggressive ETF picks will…
End of Month Summary – September 2011
September was just an ugly month for me. There’s no way to sugar coat it. I expected a flattening or possibly even a rise from the lows of the end of August, but we didn’t see the carry through that started at the end of August, instead we saw further selling and since my account…
DJIA Chart – Down Again
I charted daily prices for the past three months (Q3) on the Dow Jones Industrial Average ($DJIA, $INDU, $DJI) after it closed on Friday, September 30, 2011 at 10,913.38. The surprise of this past week is that it ended higher than the previous Friday’s close. The final three days of the week made it feel…
Carnival of Financial Planning – Edition #204
I have the honor of hosting this week’s Carnival of Personal Financial Planning, started by The Skilled Investor. Check out some of the blogs below and hopefully you’ll you can learn something. ———————————————————————————— Best Personal Financial Planning and Personal Investment Articles this Week from Personal Finance Blogs Carnival of Financial Planning – Edition #204 –…
Sold DSX Covered Calls
My DSX position was turning into a waste of capital for a little while, but I finally broke from my “wait and see” attitude and sold covered calls. I only have a little over $3,000 invested in DSX (after deducting premiums received, but still that’s no reason not to make it work for me. While…