Greetings! Today the market didn't do anything extraordinary as it reacted to the housing markets negative news. That news being fewer than expected sales of existing homes in comparison to this time last year.
The majority of the stocks I watch all dropped in value although some started the day higher than desired, FPL being one of them. But no fear, the stop I set for it had enough of a cushion that it didn't execute. At the conclusion of the day, all of my positions are showing a paper profit, even the Call I sold on my NG stock. That's right! NG dropped below the $5 strike price and now the call is cheaper than what I sold it for. If expiration was today, I would still have my stock and the right to sell Calls against it again. But expiration is not for another 23 days, so we will see.
Considering the funds that I have available and the charting that I have done. I am placing an order to buy a Put against CVX. I am expecting a move of about $2-3 dollars. This gives me the potential for a very nice return. That is my opinion, you can take it or leave it.
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