Whoohoo! I love it when my portfolio glows green, don't you? Every position in my portfolio went up today. Some better than others. For the most part, the day was a bullish. But let's get into detail about my portfolio.
My new stock position of CPLP only went up 2 cents today, continuing it's trend of consolidation. I will have to be patient with this one.
My CVX Call Option moved up more than 12%, reducing my overall losses as the stock continues to oscillate in an upward trending channel. Patience should pay off, but not just yet.
My other new stock position of EVEP also moved up today. This position is taking on the characteristics of a break out. The rest of this week will verify if this is the case.
My FPL Call Option made large gains today as the underlying stock broke out and stayed above the downward trending resistance line that had been suppressing it for the past few months. Patience has payed off for this one so far and there is still a whole month and a half until the option expires.
My Covered Call on MU is also looking up today. The stock is profitable and approaching assignment value. Again, MU is a non-dividend paying stock so I am in it purely for a little capital gain and the premium of selling the option.
My SLV stock is also in the green. Unfortunately, the secondary indicators are making it look like I got in the trend too late. Not sure what I am going to do just yet, so I will be patient and see what tomorrow brings.
Finally, in regards to the stock options I will be reporting on, PCS and S, I have nothing to report. Neither stock has hit my contingency price point to make it buy their respective Call Options. I personally think that PCS is going to continue sideways and S will continue to pull back until next week and then each will break out. That is my opinion, you can take it or leave it.
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