Portfolio Update

Today, just about every market went down. It could even be said that the treasuries had a bearish day as they pulled back after gaping up. That being said, this is how I did.

CPLP had a down day, but only by a few cents. My position in this stock still remains profitable. However, I am not concerned about it loosing value since it is a dividend paying stock with options. I will add to my position in the event that it drops and sell calls against it.

CVX had a drastically down day today. It even fell below the supporting trend line of it's channel. The secondary indicators are weak and weakening with no sign of recovery in the near future. As a result, my option is looking deplorable. I am putting in a stop-limit order to get out tomorrow.

EVEP had a down day, but it started up a little. There is weakness in the secondary indicators and the current bid and ask brackets the last price of the day. It could go either way. The good news is that it is a dividend paying stock with options. I am not worried if it goes down in price. I will add to my position in the event that it does go down.

FPL had an up day, but it's movement through out the day kept it depressed in the options market. As a result it remained unchanged. The secondary indicators suggest that it may be reversing soon. Since this is an option play, I want to lock in my profits. I will do this by tightening my stop-limit order.

MU had another bullish day. With 11 days left until expiration, there is little indication that it will pull back to the strike price of the Call Option I sold against it. It is only 12 cents from it's intraday high of a few days ago. And that is 28 cents away from the next strike price. It is all but certain that this non-dividend paying stock will be called away from me. Not a problem for me as this was intentional.

SLV had a down day. In fact, it blew through two supporting trend lines. I am suspecting even more loses in the next few days. As this is an ETF on the commodity silver, I will try to dollar cost average it by buying more if it drops below $17. I probably should have tried buying a Put Option on it a couple days ago. Live and learn.

As for the two paper trades I am in, PCS and S both went down. As a result, PCS is now even while S is in the the red a little. Neither looks like it will hold up to the economic pressures of a weak economy. I really dislike my timing as I missed two opportunities to get in with PCS, one of which was great. Oh, well. That is my opinion, you can take it or leave it.

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