Portfolio Update

Today was a lack-luster day in the market. The indices were practically unchanged all day, and the majority ended with fractional gains. My own portfolio was also less than stellar.

Both CVX and MU ended the day with small gains which resulted with my position in CVX being in the green and MU increasing it's unrealized gains. The Call Option I sold on MU remains dirt increased it's asking price, but still remains dirt cheap.

Although WFC closed up today my Call Option on it didn't see any upside action and actually closed down fractionally, but not enough to trigger my stop-loss order. The stock is still being squeezed between converging trend lines and directional decision should be coming up soon. The indicators say that it should be to the upside. We will see.

On the other hand FPL slipped in price in both the stock and option market. The good news is that it closed above support, so I am not going to pull the plug on it just yet. The indicators also suggest upside potential. So I will continue to wait and see.

Finally, USO started the day weaker than it finished it yesterday. As a result, I was stopped out of the position for a 30% loss. The ETF still closed within the downward trending channel and it's upward movement was on less than average volume, contrary to the more than average volume of the previous day. For this reason my prognostication is still against it. That is my opinion, you can take it or leave it.

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