June was a good month for me. I was due for my patience to pay off, but it’s funny that I had one of my better months of the year in the month that the indexes suffered their first losses of the year. The bulk of my paper gains came from oil, just as previous…
Author: Alex Fotopoulos
MidCap 400 Chart – Not Out of The Woods Yet
I charted the daily prices for the past three months on the MidCap 400 index ($MID.X, S&P 400) after the index closed at 1,160.82 on Friday, June 28, 2013, the last trading day of the week, month and quarter. The 20-dma acted as support on Thursday and then broke intraday on Friday, but the midcaps couldn’t…
Dow Jones Chart – Now What
I charted the daily prices for the past six months on the Dow Jones Industrial Average ($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…