Blue chip stocks (SPY) closed the latest regular session at $111.89, up 1% from the prior close.
In total, 3.4 billion shares were traded on the three major U.S. stock exchanges, down 2.9% from Friday.
On the jump, mediawatch, rules, econ reports, portfolio and a good book...
Mediawatch: A double-punch lead today -- The nationalized insurance giant AIG selling some big assets abroad, and the EU making nice talk about bailing out their indebted Greek neighbors. Here's the AP version. The Wall Street Journal played it smarter, talking about manufacturing employment and merger activity. Just as a mental exercise: 4,743 stock issues advanced today, 1,485 declined and 225 were unchanged. Does it make sense that the state of Greek debt and AIG managing to sell off some assets would be enough to propel 74% of stocks into an upward trajectory? I mean, where's the significant (1%!!) connection to those companies profits? If that connection isn't demonstrated, then the assertion is patent nonsense that flies in the face of common sense and frankly insults the reader. But hey, that's just me. | "Making big money is the best revenge." Yeah!! The subtitle says it all. |
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.
Motor vehicle sales will be released throughout today. The big point of interest here is how GM and Ford will do against Toyota, the latter having been best by bad press, congressional committees and generally ugly times of late.
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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