Blue chip stocks (SPY) closed the latest regular session at $109.81, down 1.2% from the prior close.
In total, 3.3 billion shares were traded on the three major U.S. stock exchanges, up 13.8% from yesterday.
On the jump, mediawatch, rules, econ reports, portfolio and a good book...
Mediawatch: Market reporters blamed Tuesday's decline on a disappointing consumer confidence report. For once, I think they're right. Way to go, guys! AP's report. 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. New home sales statistics will be released at 10 a.m., the hour at which Fed Chairman Ben Bernanke begins testimony before Congress on monetary policy. Petroleum inventories will be released at 10:30 a.m. Given the strong reaction to a disappointing consumer confidence report on Tuesday, I suspect that Bernanke's testimony will be the highlight of the day, as the big money managers look for hints as to whether, and when, the FOMC might raise interest rates. New home sales are also a measure of confidence. Petroleum inventories mainly impact the energy sector, although there are inflation implications if supplies are tight. | I found this book to be life-changing for cultivating a mindset that breaks free of the employee trap. Anyone who's serious about trading needs to read it. |
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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