Wednesday, December 23, 2009

12/23 Morningline

No new pps signals this morning. Nothing is going much of anywhere. No surprise, 'tis the day before the day before Christmas (and in the trade hall, not a option was stirring, not even a call). Barring catastrophe, it will be a low volume day.

  • Blue chips (SPY) open at 112, entered bear mode at close on Dec. 8 (at 109.61)
  • Fear index (VIX) 19.54, bull, Dec. 17 (22.51); levels of fearlessness unseen since the summer of 2008, before the financial collapse.
  • Treasury long bonds (TLT) 90.96, bear, Dec. 21 (91.14)
  • Gold (GLD) 106.65, bear, Dec. 17 (108.00)
  • Oil (USO) 37.18 on a 1.7% upward gap, bull, Dec. 16, (36.74)
Currency pairs:
  • Dollars per euro (EUR/USD) 1.4248 and rising, bear, Dec. 4 (1.49)
  • Yen per dollar (USD/JPY) 91.82 and falling within the range of yesterday's trading, bull, Dec. 15 (89.60)

Holdings, January expiry, no new signals:
  • KO, iron condor (p50/-p52.5/-c57.5/c60) 57.20, bull, Dec. 1 (58.08)
  • LVS, covered call (-c16) 15.42, bull, Dec. 14 (16.31)
  • SBUX, bull put spread (p22.5/-p24) 37.18, bull, Dec. 18 (23.68)
  • SMH, bull put spread (p27.5/-p29) 27.69 and rising within yesterday's trading range, bull, Dec. 21 (27.62)
Nothing to add to the etfs on yesterday's Watchlist. The signals are still in place, in a weak and unconvincing way.
    I'll do today's Watchlist from an Amtrak bus speeding south from Portland on Interstate 5. If for some reason the Watchlist doesn't show, it will mean that I had communications problems.

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