Portfolio Update

I am pleased to announce that on this moderately bullish day, I made some really nice unrealized profits. So lets get to it.

CPLP had a bullish day. Unfortunately, it was only two cents and the volume was low. At some point during the day, it once again challenged the high of the channel it has been trading in for the past month. Including the fact that the moving average and signal line of the MACD are brushing just under the zero line like it was in mid-September, I believe that it may be ready to break out, finally. Unfortunately I am not sure how long or how much it may go for. Right now I estimate about $10-$10.50.

EVEP had a really swinging bull day. It closed moderately higher than it's open but through-out the day it both dropped well below the close of the previous day and rose just enough to put in a new high. The volume for the past two days has been better than the average, however, not by much. The run up for this stock may be over with. Taking that into consideration, as well as the fact that it is a dividend paying stock, I am inclined to sell a call option against it as it pulls back. I will consider this after I get an indicator that this may be the peek for this cycle.

FPL had a completely bull day, and is my primary reason for being pleased today. From open until close, it was more than less all gains. With over a dollar move up and volume that was a little better than average, the unrealized profits are of the kind that option traders look forward to, and I am glad that I am in an option at this time. But that being said, the secondary indicators suggest that it has been over bought for a little while this cycle. Because I don't want to be a pig, I am going to, again, tighten my stop on it in hopes of keeping as much of it as I can. I've got to remember the first rule of investing, "Don't lose your money!"

MU again had a moderately bull day on less than average volume. The momentum of the secondary indicators is slowing down, suggesting that a gradual change of direction or sideways trend is forming. With 9 days left until option expiration, the chance of my shares not being called away from me is quickly slipping away. Again, this is fine by me since the stock doesn't pay dividends.

SLV is the only position I am in that did not have a bull day. However, what it did today was challenge the bottom it hit yesterday on volume that was less than average. The moving average and signal line of the MACD still continued to drift below the zero line, and the Stochastic %K and %D lines continued down as well. The final change in price resulted in what is known as a hammer candlestick. When occurring after a down trend, hammer's usually suggests that the trend is reversing. If this turns out to be true tomorrow, I will be in an even greater mood tomorrow since I bought into SLV yesterday when it hit this bottom.

As for my paper trades in the options market, both of my positions had a bullish day although only the PCS stock went up. From what I can tell this occurred because people bought into S only at the open, but no one else considered it worth their time the rest of the day. S actually fell below it's 200-day moving average after breaking above it yesterday and a couple days before that. Yesterday, S actually put in a bearish gravestone like doji candlestick. This implies that today's down day is confirmation that it will continue to fall. PCS, however, broke back above it's 50-day moving average. I currently have more faith that PCS is going to rally than S. That is my opinion, you can take it or leave it.

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