Today's mid day moves

Congrats to all you Saints fans on the Super Bowl. First trip and a win. You all waiting a long time so it's nice to see.

Today is kind of quiet with all this worry about sovereign debt issues. Personally I find it all overdone since most of the Western European countries like the UK, Germany, France, etc have investments their and can't afford to have it collapse. In the end regardless of what they are saying now they will protect themselves.

Friday we had quite a comeback and I took it as a opportunity to take some longs with an oversell situation. Keep in mind that I still believe this to be a traders market. Not everyone should be doing that. You have to learn how to before doing so. From what I can tell it looked like shorts locked in their profits going into the weekend. 

Here are a couple of good books to learn how. You're always welcome to ask me questions also which I have set up for everyone on the right side of the homepage about 1/2 of the way down. Go ahead and submit those questions.

















I bought more Toyota Motors (TM) March 65 puts today for $1.20. Sold my MSFT Feb. 25 puts and my INTC Feb 19 puts for a loss and don't see it moving that low so better to cut my losses then watch time value just eat away at the principal. Sold a little of the Airproducts (APD) March 75 calls for .95 which I bought just last Thursday for a nice little gain. Bought Feb. 17 puts on Electronic Arts (ERTS) for $.33 since they have running up and report after the bell. They tend to disappoint on earnings and with the recent run up and chart looking overbought it's a decent spec. trade.

Remember: Pigs get fat, Hogs get slaughtered. Be a Pig!

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