Blue chip stocks (SPY) closed the latest regular session at $110.74, up 0.06% from the prior close.
In total, 3.5 billion shares were traded on the three major U.S. stock exchanges, up 6.1% from yesterday.
On the jump, mediawatch, rules, econ reports, portfolio and a good book...
Mediawatch: Well, the stories just before the close said the market had edged higher after mixed economic news. Sadly, in the last 60 seconds of trading the price of SPY moved from pennies above the close to pennies below, so the headline will have to be changed to "edged lower." So nice to have a multi-purpose lede to the story, that works no matter what stocks do. AP's story. And Reuters'. My rules allow trades in April calendar and vertical spreads. I allow myself to trade unhedged call and put option purchases that expire in May or later. Covered calls, diagonals, iron condors and butterflies are all off the table for now. Three big econ reports on Monday. Personal income and outlays will be reported at 8:30 a.m. Eastern. It's yet another measure of whether we consumers are going to be able to bail out the ecnomy, end the recession and save the Universe. (Faster than a speeding bullet, more powerful than a locomotive .... It's Consumer-person!) | Move beyond the quick fixes in Total Money Makeover with Dave Ramsey's no nonsense, commonsense advice on getting your financial house in order. |
The manufacturing index, released at 10 a.m., is a heavily massaged piece of data based on a survey of purchasing managers at manufacturing companies, which shows which way the manufacturing industries are going. Both bonds and stocks care about this.
Also at 10 a.m., less significant but no inconsequential, construction spending.
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
- XHB, bear call spread, -c15/c16
Zombie shares: MCO, PALM.
Enjoy the weekend!
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 homebuilders.
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