Blue chip stocks (SPY) closed the latest regular session at $111.16, down 0.2% from the prior close.
In total, 2.9 billion shares were traded on the three major U.S. stock exchanges, down 9.4% from yesterday.
On the jump, mediawatch, rules, econ reports, portfolio and a good book...
Mediawatch: It was a day when nothing much happened, so the narrative is fairly clueless. AP saw the market wavering, ignoring the higher high that set at the open. Can you spell, "uptrend"? Reuters saw stocks inching up, which is more accurate. My rules allow trades in March iron condors and covered calls, along with butterfly, calendar and vertical spreads. I allow myself to trade unhedged call and put option purchases that expire in May or later. The housing price index will be released at 9 a.m. Eastern, and consumer confidence an hour laster at 10 a.m. Both are important measures of the way forward for recovery, if you base recovery on the public's ability and willingness to spend. It takes confidence in the future to create enough demand to raise housing prices. And consumer confidence is just that: "Happy days are ahead and I feel fine, so let's spend a little." | A 17-chapter look at the psychological pitfalls that can beset the best of traders. It's as Socrates said in the Agora: "Trader, Know Thyself." |
My portfolio consists of . . .
March expiry:
- AKS, iron condor, p19/-p20/-p25/p26
- CAL, covered call, s/-c19
- CSCO, iron condor, p22/-p23/-c25/c26
- GCI, covered call, s/-c15
- WFC, iron condor, p26/-p27/-c29/c30
Zombie shares: MCO, PALM.
Good trading!
New to private trading? Here's a look at How to Become a Private Trader.
Topics: S&P 500, SPDR, Spiders, AK Steel Holdings, Alpine Dynamic Dividend closed-end fund, Continental Airlines aviation, Cisco Systems networking, Gannett newspapers media, Moodys bond rating, Annaly Capital Management, Palm smartphone Pixi Pri, Wells Fargo bank financial.
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