Blue chip stocks (SPY) closed the latest regular session at $115.97, down 0.05% from the prior close. The DeMark pivot points for SPY are $114.86/$116.63.
In total, 4.9 billion shares were traded on the three major U.S. stock exchanges.
On the jump, mediawatch, rules, econ reports, portfolio and a good book...
Mediawatch: AP and others traipsed into Cloud Cuckoo Land. The AP market story blamed the market drop, yet again, on worries about the ever handy Greek debt. Bloomberg, and others, blamed India's decision to raise interest rates. Reuters, with a much more reasonable scenario, blamed declining oil prices and a rising dollar. (Of course, I've seen stories that blamed rising oil prices and a declining dollar when stocks go down, so, maybe not so credible.) My problem as always with the Greeks and the Indians is one of scope: They're important, but not overwhelmingly so. Oil prices and the dollar, by contrast, are pervasive. No econ reports are scheduled for Monday. The week's big report is GDP on Friday. My rules allow trades in April covered calls, iron condors and butterfly, calendar, diagonal and vertical spreads. I allow myself to trade unhedged call and put option purchases that expire in May or later. | New this week, from the author of Liar's Poker, a look inside the Doomsday Machine. |
My portfolio consists of . . .
April expiry:
- MCO, covered call, -c29
This is pathetic! Must find trades. Or not. As a private trader, I have a choice.
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, Moodys bond rating, Annaly Capital Management, Palm smartphone Pixi Pri.
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