Blue chip stocks (SPY) closed the latest regular session at $116.59, up 0.05% from the prior close. The DeMark pivot points for SPY are $115.92/$117.48.
In total, 3.3 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 Reuters credit the House passage health-care reform with making the market go up. Of course, the blue chips were traded Monday within the same range as Friday, before the bill passed, so I think it's a lame explanation. And they opened lower in the morning after the bill had passed. So, a mid-day change of heart? Sorry, former colleagues and competitors! I say it more in sorrow than in mockery. Econ report: Existing home sales will be released at 10 a.m. Eastern. Also, Treasury Secretary Tim Geithner testifies on the Hill, beginning at 10 a.m., regarding Fannie Mae, Freddie Mac and the Federal Home Loan Bank system. So, if you traded any of the 101.7 million shares of FNM that changed hands on March 9, you'll want to tune in. FNM is trading at $1.10, up 20.9% from the recent low of 91¢ set on Feb. 10. 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. | What would it be like to open your accounts and never have any ugly surprises. Financial strategist Pamela Yellen tells how to get your money on the good news track. |
My portfolio consists of . . .
April expiry:
- MCO, covered call, -c29
(I wonder what vampire shares would be?)
Good trading!
New to private trading? Here's a look at How to Become a Private Trader.
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