Trade Status

As the market winds down, there is little relative change.  I am a bit surprised as I expected earnings to push the market a bit but given the mix in economic data and Fed concerns news out of the financials was not enough to really create change in the market.  From a position standpoint, IWM and HD are relatively unchanged and still above their 7 day moving averages.  RIG took a leap this morning as it shot up over $1.50 from its morning lows.  I continue to hold the puts that expire on Friday.  With the strike price at $55, value will surge into the options on any selling pressure but that same value will leap right back out as the stock rallies.  I still expect selling pressure to come in.

Have a great evening,

Jeff

Advertisements

Posted on January 16, 2013, in Jeffs 3k-100k. Bookmark the permalink. Leave a comment.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: