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.
Disclaimer: See bottom of page. http://investorsopinion.blogspot.com
Tuesday, December 8, 2009
Monday, December 7, 2009
Portfolio Update
Not much to say about the market today. It was mixed and so was my portfolio.
CPLP closed just under it's previous close, creating a small loss for me.
CVX closed slightly up, but only after some large positive and negative swings. As a result of the negative swings toward the end of the day, I am down on my Call Option.
EVEP moved higher and closed at the top of it's upward trending channel. As a result, my Call Option is profitable. Unfortunately, the trading range is so narrow that the gains are marginal.
FPL moved back up some. Unfortunately, it seems to be over-bought at this time. I believe I may sell and take my meager profits.
MU gained a little bit. But it seems to be over-bought as well. It looks like it will be pulling back this week. But I suppose if it does, it won't be for a lot or for long.
SLV opened much lower, but regained some of it's losses. Unfortunately, these gains were not enough to break it above yesterday's close.
As for my paper trades, we have some news to report. Both PCS and S went up today; PCS for profit and S for entry. PCS is profiting enough to cover it's commissions at this time. S has broken out and has me in at a fair amount. I will keep an eye on them.
That is my opinion, you can take it or leave it.
Disclaimer: See bottom of page. http://investorsopinion.blogspot.com
CPLP closed just under it's previous close, creating a small loss for me.
CVX closed slightly up, but only after some large positive and negative swings. As a result of the negative swings toward the end of the day, I am down on my Call Option.
EVEP moved higher and closed at the top of it's upward trending channel. As a result, my Call Option is profitable. Unfortunately, the trading range is so narrow that the gains are marginal.
FPL moved back up some. Unfortunately, it seems to be over-bought at this time. I believe I may sell and take my meager profits.
MU gained a little bit. But it seems to be over-bought as well. It looks like it will be pulling back this week. But I suppose if it does, it won't be for a lot or for long.
SLV opened much lower, but regained some of it's losses. Unfortunately, these gains were not enough to break it above yesterday's close.
As for my paper trades, we have some news to report. Both PCS and S went up today; PCS for profit and S for entry. PCS is profiting enough to cover it's commissions at this time. S has broken out and has me in at a fair amount. I will keep an eye on them.
That is my opinion, you can take it or leave it.
Disclaimer: See bottom of page. http://investorsopinion.blogspot.com
Saturday, December 5, 2009
Prognostication Comes True Or Squirrel Finds A Nut
Today I came across the interview Aaron Task had with Bernie Schaeffer yesterday on his Yahoo Finance show, techticker. In the accompanying article he also writes, it included a point about gold that I found interesting. This point also reminded me of a post I wrote not too long ago.
In Task's article he mentions that when gold pulled back on Friday, it "tumbled more than $60, or 5%". When Task mentioned 5% it reminded me of a prognostication I made before Thanksgiving (November 24, 2009). In that prognostication I stated that I expect the gold ETF (GLD) to "only pull back as much as 7%". Now the point Task made is true, but it only takes into account intraday trading. When I made my statement I was not talking about intraday trading. So how much did the ETF really fall?
On December 2, 2009, two days before yesterday's pull back, GLD closed at a high of $119.18. As of yesterday's close, GLD is at $113.75. That means that it tumbled a total of $5.43, or 4.6%. This is still more than half of what I prognosticated. On top of that, it happened within the two week time frame I stated also. Not bad in my opinion. The question now is what will the next trading day bring? Will it a) continue to slide, b) oscillate sideways, or c) bounce?
The answer? I don't know. My opinion is that statistically it should continue to slide for at least one more day. Especially lately as it has been over-priced for an extremely long period of time, and the price has been increasing way too steeply. Usually such things are indicators that the drop will also be dramatic, as it has already shown in one day. However, humans are irrational and the sales pitch of a metals commodity broker is quite convincing. It is very likely that it will oscillate sideways for a while or just bounce. Maybe it will create a double top before coming down again. I just don't know.
What I do know is that the candlestick created on this down day has a long lower shadow. This usually means that bulls saw the drop as a good thing and rushed in to grab a great deal. From here the equity value travels sideways or bounces. The length of the shadow in comparison to the body is an indicator of direction. Generally, the longer the shadow, the more likely there will be a bounce. Since this one has a long shadow shorter than the body of the candlestick, it will probably travel sideways for a few days. That is my opinion, you can take it or leave it.
Disclaimer: See bottom of page. http://investorsopinion.blogspot.com/
=== References ===
Don't Fear the Fed: Stocks, Gold Still a Buy, Bernie Schaeffer Says
Tuesday, November 24, 2009 - Investors Opinion: Portfolio Update
In Task's article he mentions that when gold pulled back on Friday, it "tumbled more than $60, or 5%". When Task mentioned 5% it reminded me of a prognostication I made before Thanksgiving (November 24, 2009). In that prognostication I stated that I expect the gold ETF (GLD) to "only pull back as much as 7%". Now the point Task made is true, but it only takes into account intraday trading. When I made my statement I was not talking about intraday trading. So how much did the ETF really fall?
On December 2, 2009, two days before yesterday's pull back, GLD closed at a high of $119.18. As of yesterday's close, GLD is at $113.75. That means that it tumbled a total of $5.43, or 4.6%. This is still more than half of what I prognosticated. On top of that, it happened within the two week time frame I stated also. Not bad in my opinion. The question now is what will the next trading day bring? Will it a) continue to slide, b) oscillate sideways, or c) bounce?
The answer? I don't know. My opinion is that statistically it should continue to slide for at least one more day. Especially lately as it has been over-priced for an extremely long period of time, and the price has been increasing way too steeply. Usually such things are indicators that the drop will also be dramatic, as it has already shown in one day. However, humans are irrational and the sales pitch of a metals commodity broker is quite convincing. It is very likely that it will oscillate sideways for a while or just bounce. Maybe it will create a double top before coming down again. I just don't know.
What I do know is that the candlestick created on this down day has a long lower shadow. This usually means that bulls saw the drop as a good thing and rushed in to grab a great deal. From here the equity value travels sideways or bounces. The length of the shadow in comparison to the body is an indicator of direction. Generally, the longer the shadow, the more likely there will be a bounce. Since this one has a long shadow shorter than the body of the candlestick, it will probably travel sideways for a few days. That is my opinion, you can take it or leave it.
Disclaimer: See bottom of page. http://investorsopinion.blogspot.com/
=== References ===
Don't Fear the Fed: Stocks, Gold Still a Buy, Bernie Schaeffer Says
Tuesday, November 24, 2009 - Investors Opinion: Portfolio Update
Friday, December 4, 2009
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.
Disclaimer: See bottom of page. http://investorsopinion.blogspot.com
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.
Disclaimer: See bottom of page. http://investorsopinion.blogspot.com
Thursday, December 3, 2009
Portfolio Update
Today was a weak day in the market with relatively small loses and the result for me was mixed.
CPLP had an up day. The end result was a profit for me. From my analysis, there is plenty of potential for some dramatic gains, so I will continue to hold on to it.
CVX had a down day, and this brought down the value of my Call Option. As it stands, CVX closed at the first of two of it's most consistent trend lines of support. Although past behavior is not indicative of future results, it does, suggest the most likely action to take place. And since bouncing up after hitting this support line is the most common reaction, it is likely that it will go up tomorrow. Now, if it breaks down further, then I will begin to consider protecting what's left of the principal.
EVEP had a down day. The end result is that I am a little bit in the red with it. The current overall trend is bullish while the stock is going toward the supporting trend line of it's channel. Due to the secondary indicators that I watch, I have the opinion that the stock may be in the process of pulling back. Since my position in it is small, and it pays a large dividend, I am going to wait this out.
FPL had a down day. Since I a Call Option on the stock, the value of my position also lost value. The price movement of the day, however, did not drop below the resistance level that it broke through the day before. Although the secondary indicators suggest the stock is becoming overbought, I am positive about future potential for upward gains. It could just be defining a new resistance trend line for a bullish trend. I still have time left on my option and plenty of value before my stop-limit order get triggered, so I will let it ride until the stop-limit order gets triggered or I get more reason to sell.
MU almost had a really up day, but pulled back before the close to result in a very long upper wick. The wick is actually longer than the body of the candle stick. This could mean that the stock has exhausted the number of bulls currently in the market place. And since the general direction of the stock for the past month has been up, it is likely that the stock is going to perform a pull back to it's supporting trend line before moving up. If it breaks below that supporting trend line, then this could be the signal that indicates the end off it's run. I personally don't see it breaking below that supporting trend line. It may not even fall below $7.75. Neither direction means anything to me as I am looking forward to getting the non-dividend paying stock called away from me for a little capital gain or to sell another call option against it if it drops below the strike price of the current Call Option before and through expiration.
SLV had a down day. It's price movement resulted in a doji star below the previous day. Since it has currently been in an up trend, such candle sticks carry little influence by themselves. However, secondary indicators suggest that the current run could be due for a pull back. Such a pull back doesn't seem to be all that drastic of a move. It will probably be no more than a $1 per share. Anything more than that should be considered seriously.
As for my paper trading in the options market, both stocks that I am watching for that have pulled back today.
PCS pulled back only a few cents so there is still some strength behind it according to the secondary indicators. The option value didn't move any so I am leaving it in place.
S, on the other hand, still continues to pulled back. Even though it started out making some gains, S ended the day down. When it topped out two weeks ago, it created a slightly declining resistance trend line. At this point I could revise my contingency price lower by 5 cents. But because it is such a shallow descent, I am leaving the contingency price as is. I will wait for it to break $3.95 on the stock before the option get bough. I should be in this position within the next 5 to 10 days. That is my opinion, you can take it or leave it.
Disclaimer: See bottom of page. http://investorsopinion.blogspot.com
CPLP had an up day. The end result was a profit for me. From my analysis, there is plenty of potential for some dramatic gains, so I will continue to hold on to it.
CVX had a down day, and this brought down the value of my Call Option. As it stands, CVX closed at the first of two of it's most consistent trend lines of support. Although past behavior is not indicative of future results, it does, suggest the most likely action to take place. And since bouncing up after hitting this support line is the most common reaction, it is likely that it will go up tomorrow. Now, if it breaks down further, then I will begin to consider protecting what's left of the principal.
EVEP had a down day. The end result is that I am a little bit in the red with it. The current overall trend is bullish while the stock is going toward the supporting trend line of it's channel. Due to the secondary indicators that I watch, I have the opinion that the stock may be in the process of pulling back. Since my position in it is small, and it pays a large dividend, I am going to wait this out.
FPL had a down day. Since I a Call Option on the stock, the value of my position also lost value. The price movement of the day, however, did not drop below the resistance level that it broke through the day before. Although the secondary indicators suggest the stock is becoming overbought, I am positive about future potential for upward gains. It could just be defining a new resistance trend line for a bullish trend. I still have time left on my option and plenty of value before my stop-limit order get triggered, so I will let it ride until the stop-limit order gets triggered or I get more reason to sell.
MU almost had a really up day, but pulled back before the close to result in a very long upper wick. The wick is actually longer than the body of the candle stick. This could mean that the stock has exhausted the number of bulls currently in the market place. And since the general direction of the stock for the past month has been up, it is likely that the stock is going to perform a pull back to it's supporting trend line before moving up. If it breaks below that supporting trend line, then this could be the signal that indicates the end off it's run. I personally don't see it breaking below that supporting trend line. It may not even fall below $7.75. Neither direction means anything to me as I am looking forward to getting the non-dividend paying stock called away from me for a little capital gain or to sell another call option against it if it drops below the strike price of the current Call Option before and through expiration.
SLV had a down day. It's price movement resulted in a doji star below the previous day. Since it has currently been in an up trend, such candle sticks carry little influence by themselves. However, secondary indicators suggest that the current run could be due for a pull back. Such a pull back doesn't seem to be all that drastic of a move. It will probably be no more than a $1 per share. Anything more than that should be considered seriously.
As for my paper trading in the options market, both stocks that I am watching for that have pulled back today.
PCS pulled back only a few cents so there is still some strength behind it according to the secondary indicators. The option value didn't move any so I am leaving it in place.
S, on the other hand, still continues to pulled back. Even though it started out making some gains, S ended the day down. When it topped out two weeks ago, it created a slightly declining resistance trend line. At this point I could revise my contingency price lower by 5 cents. But because it is such a shallow descent, I am leaving the contingency price as is. I will wait for it to break $3.95 on the stock before the option get bough. I should be in this position within the next 5 to 10 days. That is my opinion, you can take it or leave it.
Disclaimer: See bottom of page. http://investorsopinion.blogspot.com
Wednesday, December 2, 2009
Portfolio Update
Today was a mixed day in the markets. The outcome for the most diversified investor would be just about even. I, on the other hand, try to be as opportunistic as I can while maintaining control. That is not saying much so I will just get into my portfolio update.
CPLP continues in the consolidation trend it has been sitting in. Today it moved up as much as 8 cents but could only hold on to 3 cents at the close of the market. The current bid and ask prices are too far apart and on opposite extremes to be relied upon. Depending on who bites first, Bull or Bear, the market could go either way. Taking into consideration, it seems likely tomorrow will be another down day. Losses are currently small.
CVX had a down day with a long shadow after a doji day yesterday. This usually means that the stock is heading down. But it has a number of supporting indicators to suggest that this may only be the negative side of it's upward trending channel. This stock requires patience and so does my Call Option on it. Losses are currently small.
EVEP had a down day, as well. This down day, however, had some action both above it's open and below it's close. With other indicators still suggesting strength is still present and the existence of a bullish trend, I have no reason to assume the worse on this stock yet. Losses are very small on this one with plenty of up potential to watch for.
FPL provided me some really good news today. FPL had another up day. It even spent a little time above the 200 day moving average. Now the move was not a large move, but because it is $3 above the $50 strike price of my Call Option, small moves produce exponential gains. So I am pleased to say that this move averages me into the green.
Next we have MU, which made a very affirmative move to the upside today. It is now over the $8 strike price of the option I sold against it. This means that if today was option expiration, I would have my 100 shares of this non-dividend paying stock assigned to someone else for $8 per share. That is okay by me as that was the plan anyway. I buy it under $8 per share to sell a Call Option against it and collect a premium, I then sell it to the Call Option buyer under market value at $8 per share even though it is worth more. The end result is they get a stock at a price under market, and I get a premium and a small profit. Win-win in my eyes.
Last we have SLV, which also had an up day although the close was actually lower than it's open. Considering the volume and the oscillating secondary indicators, I am seeing the possibility for a little bit of a drive up, but generally a pull back to about $17.50-$18 before anymore serious movement. This also seems to be the most recent trend for SLV. It may be wise for me to buy more on a pull back.
As for my paper trading, S still remains under it's defined contingency price, but PCS broke above and then closed at the contingency price I defined for it. As was stated in a previous blog where I described my paper trading strategy, I am going to record the trade as if it executed at the Call Options high for the day. It just happens that the price didn't change all day from $2 per contract share. This means I am now tracking a $5Feb10 Call Option on 100 shares of PCS for a total of $200. We will see where it goes from here. A comfortable loss is 25-30% of the purchase price. This means I am looking at a stop-limit of $1.50-$1.40 per contract share. We will see if the option drops to this.
Generally speaking, the oscillating indicators see a reversal in momentum to the up side. This suggests to me that I am likely to see more profits than losses in the next couple weeks. That is my opinion, you can take it or leave it.
Disclaimer: See bottom of page. http://investorsopinion.blogspot.com
CPLP continues in the consolidation trend it has been sitting in. Today it moved up as much as 8 cents but could only hold on to 3 cents at the close of the market. The current bid and ask prices are too far apart and on opposite extremes to be relied upon. Depending on who bites first, Bull or Bear, the market could go either way. Taking into consideration, it seems likely tomorrow will be another down day. Losses are currently small.
CVX had a down day with a long shadow after a doji day yesterday. This usually means that the stock is heading down. But it has a number of supporting indicators to suggest that this may only be the negative side of it's upward trending channel. This stock requires patience and so does my Call Option on it. Losses are currently small.
EVEP had a down day, as well. This down day, however, had some action both above it's open and below it's close. With other indicators still suggesting strength is still present and the existence of a bullish trend, I have no reason to assume the worse on this stock yet. Losses are very small on this one with plenty of up potential to watch for.
FPL provided me some really good news today. FPL had another up day. It even spent a little time above the 200 day moving average. Now the move was not a large move, but because it is $3 above the $50 strike price of my Call Option, small moves produce exponential gains. So I am pleased to say that this move averages me into the green.
Next we have MU, which made a very affirmative move to the upside today. It is now over the $8 strike price of the option I sold against it. This means that if today was option expiration, I would have my 100 shares of this non-dividend paying stock assigned to someone else for $8 per share. That is okay by me as that was the plan anyway. I buy it under $8 per share to sell a Call Option against it and collect a premium, I then sell it to the Call Option buyer under market value at $8 per share even though it is worth more. The end result is they get a stock at a price under market, and I get a premium and a small profit. Win-win in my eyes.
Last we have SLV, which also had an up day although the close was actually lower than it's open. Considering the volume and the oscillating secondary indicators, I am seeing the possibility for a little bit of a drive up, but generally a pull back to about $17.50-$18 before anymore serious movement. This also seems to be the most recent trend for SLV. It may be wise for me to buy more on a pull back.
As for my paper trading, S still remains under it's defined contingency price, but PCS broke above and then closed at the contingency price I defined for it. As was stated in a previous blog where I described my paper trading strategy, I am going to record the trade as if it executed at the Call Options high for the day. It just happens that the price didn't change all day from $2 per contract share. This means I am now tracking a $5Feb10 Call Option on 100 shares of PCS for a total of $200. We will see where it goes from here. A comfortable loss is 25-30% of the purchase price. This means I am looking at a stop-limit of $1.50-$1.40 per contract share. We will see if the option drops to this.
Generally speaking, the oscillating indicators see a reversal in momentum to the up side. This suggests to me that I am likely to see more profits than losses in the next couple weeks. That is my opinion, you can take it or leave it.
Disclaimer: See bottom of page. http://investorsopinion.blogspot.com
Tuesday, December 1, 2009
Portfolio Update
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.
Disclaimer: See bottom of page. http://investorsopinion.blogspot.com
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.
Disclaimer: See bottom of page. http://investorsopinion.blogspot.com
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