As expected even though the jobs report was a bit better than expected the market sold off and the VIX made a big move. Reality is the whole worry about Europe is overdone to me.
With that in mind and what I saw on the 1, 3 and 6 month charts I'm seeing some buying opportunities on the long side for next week.
I bought the March ARG 60 puts at .95 and $1.65 and bought APD March 75 calls for .80 based on the reasoning I gave about this take over play in my other post today. Sold off my CVX 60, 65 and 70 Feb. puts that I had bought last week for a nice profit. Don't want to be holding too much of those going into the weekend since you lose time value quickly. Have a little left but might sell those too going into the close especially if the selling accelerates. Sold AFL Feb 47 puts, CSCO FEB 23 calls and my F Feb 11 puts that went deep into the money today. Still holding the F March 10 puts and may sell a portion of it going into the close.
Then I bought some GE March 16 calls for .44 and some Ford March 11 calls for .63.
My thinking is this: First the charts on the long side look really good. Run the time frames I gave you along with the RSI and you'll see they look way oversold. Again I always try to dollar cost average so if they go up or down Monday or later today I'll probably add to them. I'm still sitting on the VIX trade but will sell of something before the close. It made a nice move and I'm not a Hog.
Have any moves you made today? Go right ahead and let everyone what it was and why.
I saw this movie with the little lady last week and it was really good. If you like food, cooking and Julia Child who was one of my favorites to watch as a kid you're gonna love this film. Snow headed this way so it's going to be a movie night.
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2 comments:
Marc I hope you realize that not everybody is as good as you in reading/understanding the technical terms ? A simple "buy" or "sell" advice is also appreciated. :)
Hi Taupe. The purpose of this site is to educate and entertain so you can take control of your own investments.
Since I'm not privy to most people's finances it's impossible to tell people what they should do with their own money. I try to comment and entertain on the various investments or trades that I'm affecting for myself of clients or opportunities and are's of interest and the reasons why. Sometimes from a Fundamental point of view and others from a Technical perspective. At times it may be both.
The decision is always in the power of the individual and their assessment of their own financial picture. Should people need help on a professional basis they are welcome to contact me via email or their trusted Financial advisor.
I am providing links to books, CD's and DVD's through Amazon on various topics.
Should you have a specific topic that you would like for me to cover then I will do my best to answer your questions and provide some periodicals to help you. Please check my Blog Archive as the usually include a periodical related to the topic.
Thanks for your feedback!
Marc Roth
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