Portfolio Update

Not much to say about the market today. It swung high and then low and then settled somewhere in the middle. The end result had the stock market up a few dozen points and the basic metals, treasuries, and oil ETFs down. As for me it was a slightly down day for me over all.

CPLP only went up 6 cents to put me in the green. It has broken above one of the resistance trend lines that I have been using to tracking against it, so that is a bit of good news for my bull position. There is strength in the secondary indicators so with plenty of upside potential still available.

CVX also had a slightly up day. The close, however, was down from it's open. It currently sits on the supporting trend line that it came down to yesterday. The volume was only slightly higher than average and the secondary indicators continue to pull back. Not sure what this mixture means for the future of the stock or my Call Option on it. I still have some time on the option, so I will wait for next week.

EVEP had an up day. Although it sits in an up trending channel, the secondary indicators are showing weakness. I believe that it may be in the process of pulling back. If it does, I think I may dollar cost average into it some more for the reason that it's dividend is very good and it has strong earnings.

FPL had a down day. It continues to battle it's 200- and 50-day moving averages. I am inclined to believe that it will continue to pull back or hold this level for a few day before moving further up. My option still has time so I will wait and see.

MU gaped up today, but then pulled back before it's close. The volume was stronger than average and the secondary indicators are on the strong side, but they are showing weakness. I think it may pull back, but I don't think it will drop below the strike price of the Call Option I sold against my stock. If it doesn't, my stock will be called away from me for the small profit I was expecting to receive.

SLV had another down day. This down move brought it below one of the upward trending support lines I used to chart it's movements. This isn't the first time it has fallen below this support line, so I no longer have confidence in using it. There is one more that has proven more reliable. If it breaks below this one, I will consider selling my position and waiting on better circumstances.

As far as my paper trading is concerned, there is still no change there. PCS closed unchanged and S still hasn't reached my contingency price, only closing up a couple cents.

The market seems to be slowing down in my opinion. The stocks have been losing momentum and the commodity ETFs pulled back pretty hard after so many days of continual gains. The bulls in all the markets may have exhausted themselves. That is my opinion, you can take it or leave it.

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