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!