Tuesday, December 8, 2009

12/8 Morningline

Blue chips (SPY) show a pps bear signal this morning with a small gap down from yestesterday's trading range. The fear index (VIX) gaps up with a corresponding pps bull signal.

Treasury long bonds (TLT) gaps up this morning while remaining in bear mode, where it has stood since Nov. 30.

Gold (GLD) is pausing, opening in the middle of yesterday's trading range, after a bear signal and decline on Dec. 4.

The euro continues to decline against the dollar (EUR/USD) on the third day since a pps bear signal was given. The dollar declines against the yen (USD/JPY) on the fourth day since a bull signal was given.


UNG, my one remaining December position, opens above 9.30, meaning that at expiration in 11 days the covered call position will be profitable, but I'll forego about 0.30 in profit when the shares are called away. (If nothing changes, of course, but things will change.)

In my January positions:

The X bear call spread (c41/-c40) is on track.

HPQ is showing a bear signal this morning, meaning the bull put spread (p49/-p50) opened yesterday will be sold at close today if that signal holds. How I hate whipsaws!

KO continues to trend sideways and stands just below the top limit of max profit in my iron condor (p50/-p52.5 c60/-c57.5).

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