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This may come back to bite me, but I sold 10 VIX April 20 calls at $0.65 this morning, intending to cover my April call spread, which is heading for a loss of $640 if the markets stay in their torpid state My reasoning is that I already have a much larger May position on [...] You know what I think about this market! Let’s put it this way, hope you have nice weather, its been a good week for outdoor activities. But I may have some close to expiration trades to do soon. Stay tuned. . . . and the beat goes on. I know, I know, the market is being “coiled like a spring,” to jump higher and make us all rich . . . If you thought trading yesterday was a snore, hope you really got jacked up by the market action today: Well, this has to be the ultimate definition of lack of volatility, so the VIX did fall to about 16.69 at noontime, so I took advantage and “tightened up” my May VIX call spread, selling the [...] Today was my candidate for the most boring day for the stock market I can remember. Boring days are best put to use making plans for the future. About the worst thing you could do is to start day-trading out of boredom. The Standard and Poor’s 500 index rose about 5.4% in the first quarter, a good sign for the whole year if you are a follower of recent trends. As the Global Macro Monitor site astutely points out, only once in the past twenty years has the market declined for the year after the S&P rose [...] In the upcoming stock market week, all eyes will be on whether the bulls can power prices through the year’s previous top at S&P 500 1343: Failure to do this might result in the dreaded double top, one of technical analysis’ most ominous signs. Of course reading charts to predict the course of the entire [...] Everything is going so well in the stock market, that new highs for the year are even in sight: When the calm peaceful feeling sets in, I like to bet that it wont last forever. And so I did, stepping out with a larger VIX options trade this time. This morning, with the VIX at [...] The first quarter of 2011 is now history, and it was one of the best three month periods in recent history for the stock market, with the S & P 500 posting a 5.4% gain: It was an even better quarter for my trading account. Right after the start of the year, I started moving [...] |
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