Blue chip stocks (SPY) closed the latest regular session at $114.25, up 1.4% from the prior close.
In total, 3.4 billion shares were traded on the three major U.S. stock exchanges, up 13.3% from the day before.
On the jump, mediawatch, rules, econ reports, portfolio and a good book...
Mediawatch: The Narrative is that the monthly employment report was better than expected. Not good mind you. The unemployment rate was unchanged, and employers still cut tens of thousands of jobs. But traders saw glimmers of hope and optimism all the same. The AP version, and Reuters'. My rules allow trades in April iron condors and butterfly, calendar and vertical spreads. I allow myself to trade unhedged call and put option purchases that expire in May or later. Covered calls and diagonals are all off the table for now. There are no economic reports scheduled for release. | The author of Liar's Poker gives a brilliant account of how the economy was driven off a cliff. |
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.
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.
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