I charted the S&P 500 ($SPX) after it closed for the week on Friday, May 13, 2011 at 1,337.77. I used four of the same trend lines from my last SPX chart two weeks ago. I replaced the longest trend line of higher highs with the shortest trend line of lower highs in this weekend’s…
Dow Jones Chart – May 6, 2011
I charted daily prices for the past six months on the Dow Jones Industrial Average ($DJIA, $INDU, $DJI) after it closed on Friday, May 6, 2011 at 12,638.74. The middle of the week felt like we were about to roll over and head much lower after disappointing data on Wednesday and Thursday, but then Friday…
Is Oil Close to a Floor?
In a comment yesterday I mentioned that I thought about selling a new naked put on UCO all day, but every time I looked at the chart for the ultra oil ETF it was down another 20 or 30 cents (and that was while I was checking frequently). I really debated it all the way…
UWM Chart + Sold More Naked Puts
The draw of the decent premiums for somewhat measured risk drew me back to UWM again today. Actually I was drawn in yesterday, but the order hit today. As I mentioned in my April summary yesterday I was planning to increase my exposure. After spending more time on individual stocks and focused ETFs in April…
End of the Month Summary – April 2011
Y’all do know that eventually we’ll have a month that doesn’t make us end with a higher balance, don’t you? It doesn’t seem many people understand that still and the buying keeps pushing the markets higher. I’ve enjoyed the ride as much as anyone, but grow more nervous each month that adds to the streak….
S&P 500 Chart – Ascending Trend Lines
I charted the S&P 500 ($SPX) after it closed for the week on Friday, April 29, 2011 at 1,363.61. With a third of the year in the books the stock market continues to surprise many with its endurance. As I mentioned in last week’s index chart post, I thought we were going to get a bigger…
DJIA Chart – April 22, 2011
I charted daily prices for the past six months on the Dow Jones Industrial Average ($DJIA, $INDU, $DJI) after it closed on Friday, April 22, 2011 at 12,505.99. This past Monday had all the markings of the beginning of a bigger fall for the Dow Jones Industrial Average. All I needed before I jumped ship…
Sold June UCO Naked Put
After delaying far too long, I finally got back into UCO this morning. If you recall my statement on Monday, I said I had planned to get in to UCO then, but decided to wait and might regret not getting in while I had a chance. That was more than $4.50 ago per UCO share….
Sold VXX Covered Calls
I have mixed thoughts about this market. On one hand I think the bull market has more time left in it just solely based on the time we’ve run from the bottom to present. On the other hand the ground we’ve covered has me wondering if a solid 10% correction still isn’t in order. We’re…