Weekly Report for Week Ending 4-10-2009

I am sorry for being a few days late on the weekly report. So lets get right to it.

U.S.
Dow => 8083.38, +65.79
Nasdaq => 1652.54, +30.67
S&P => 856.56, +14.06

Mine
AMD => 3.75, +0.32
F => 4.24, +0.99
NG => 2.92, +0.15
CVX QJ => 0.15, -0.05
FPL QH => 0.15, -0.40

My outlook is that the market is still going down from here. This is because all momentum indicators I watch are still slowing and reversing. I don't want to sound like a broken record so if you want to see what I am looking at that causes me to think that, just read the last two weekly reports. I don't mean to be rude but, seriously, do you want to see the same reasons written over and over again?

Now it looks like my option picks didn't work out very well for me, but I still have a month left, and things are turning in my opinion, I am just going to wait them out.

I have two cover calls that I haven't been posting. One is on AMD and the other is on Ford. They are both ITM so they might be called away from me this Friday since it is option expiration. But I am going to allow it to ride. The option is two expensive for me to buy back but I made enough profit on the stocks to be satisfied with being called away.

That is my opinion, you can take it or leave it.

Disclaimer: I am not a stock broker; I am not a financial advisor; I am not recommending to you what to buy or sell. I am just an opinionated investor. If you decide to follow in my footsteps you are taking risk. It is inevitable that I may be wrong. So if you are going to follow in my footsteps that is your own personal decision. I am not responsible for any loss that you may, and probably will, incur regardless of my opinion.