Monday, December 7, 2009

12/7 Morningline

Blue chips (SPY) are starting the the week little changed from Friday's close and from a pps bull signal five trading days earlier. The fear index (VIX) is also little changed and is in bear mode (bullish for stocks).

Treasury long bonds (TLT) has paused in a sharp decline that began with a pps bear signal five trading days earlier.

Gold (GLD) has opened slightly lower after an early-day pps bear signal on Friday followed by a 5% decline. The price is at a near-term minor support level.

The dollar continues to decline against the Euro (EUR/USD) on the second trading day since a pps bear signal, and the yen, on the third trading day since a pps bull signal, has paused after a large price rise.

My holdings:

HIG, a January p26/-p27 bull put spread, remains little changed since Friday. In pps bull mode.

KO, a January p50/-p52.5/-c57.5/c60 iron condor, remains a the top range of profitability, in pps bull mode.

UNG, a December -c9 covered call, has moved back above the strike price and would be profitable if it expired at this level. In pps bear mode.

I'll make trading decisions in the last half hour of the day. One item on the list: A possible bearish position in GLD is looking good.

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