No Update Today

Hi guys.  Due to real life and time constraints, I won’t be able to post a full update today, but I will give a quick synopsis.

Now all time high close.  Still not a close above all time highs, but we are close.  The market is very bullish.  I expect a small bullish flag to form before we rip further.  There really is no reason for us to move downward other than for a small rest and a reset of oscillators.  HOWEVER!!! It’s very possible that this could be a near term double top and we could have so much bullish optimism that a bearish trend could ensue.  That’s not where I believe we are headed, but it is still a scenario to consider.

In my real account I was up about 20% on LNKD.  Sold out today.

I entered long in $DIS and $HES.  Meanwhile I wrote a put for $WLT.  I would really like to own WLT as I think it has a lot of upside potential.  In addition, options are rather expensive for such a small stock which means collecting premiums on calls would offset any potential losses.  It pays a 5% dividend so it would be a good investment.

I have my eye on $NLY to own.  It pays an excellent dividend and would be a great stock to add to and write calls/puts on, although the option values are not as strong as WLT.

Let’s see what happens!

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4 thoughts on “No Update Today

  1. Completely understand the time constraints. Once school starts back up, most of my time is spent with the family and the rest preparing and grading.

    Good job on LNKD. A buddy of mine has done well with WLT, of course I have been short the stock for about 2 weeks.

    NLY may have bottomed…have not had much success with picking those.

    Another one of my co-workers has some good dividend paying stocks, but he uses a lot more money than I do.

    Good trading!

    Jose

    • Indeed, time is something I am very short on these days, unfortunately. I would love to dedicate myself to trading and watch the market and be successful at it, but that’s not in the cards for me yet.

      Thanks on LNKD. Unfortunately, I sold too early. If I had held long I would have made an excellent return, but it gives me some confidence.

      WLT I’m not too worried about. I feel like I can make some great plays with WLT on writing calls and puts. It will be a $50 to $100 monthly return, but I’m okay with that, just for some small revenue.

      NLY would be similar to WLT, but I’m not sure its options are as good. NLY is more for the wicked dividend.

      I am in DIS and HES long, but I think I should have waited for a small pullback before getting in. Ahh well, we’ll see how it works out.

      Hope your trades are doing well!

      Talk soon.

      -Mark

  2. I haven’t been keeping up with the markets lately other than JAN’s update video on youtube, and what is shown in class, and what you post. I see GOOG is just a few pennies under its all time high. I’m going to keep an eye on it tomorrow, but BIG DISCLAIMER I haven’t done any analysis on it other than to check its price today. I figured with the wait-and-see strategy JAN has been advocating, I’d just take a break from the market until it does pick a direction. If GOOG closes at a new all time high tomorrow, then I’ll know it (GOOG, at least) has decided on bullish.

    • GOOG closed down today slightly, after hitting a new all time high. I mostly expected it would after the bullish run of the last several days. I suspect Monday will bring a new high, and if so I will be entering long (virtually) on the 15 minute rule.

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