The S&P 500 closed down 5 (-0.29%) at 1651, the Nasdaq closed down 4 (-0.11%) at 3459, and the Dow closed down 13 (-0.08%) at 15295. Action came on slightly above average volume (NYSE 814 mln vs. avg. of 729; NASDAQ 1741 mln vs. avg. of 1647), with decliners outpacing advancers (NYSE 1288/1802, NASDAQ 1312/1221) and new highs outpacing new lows (NYSE 48/36, NASDAQ 47/27). Read more: http://www.briefing.com/InPlayEq/InPlay/InPlay.htm#ixzz2U9MMDpA6 Under Creative Commons License: Attribut…
I expect some profit taking at every 10 point up side.
Lot of folks will love to take their profit and enjoy summer for next few months
Fed Chairman testimony was kind of neutral - it said that FEDS may change or reduce support in next 3 months (Based on my views)
Dow has given up most of gains
Market action is more like pot shot deals today. Folks are buying or selling at random
$RNR beat earning on may 1 and sold off. It sold off again today
$PRE did the same thing sold off after big beat on Apr 29
beats by $1.04; beats on top line (96.05 +0.81)
Reports Q1 (Mar) operating earnings of $3.39 per share, $1.04 better than Estimate of $2.35; net premiums written rose 11.1% year/year to $1.64 bln vs the $1.64 bln consensus. Tangible book value/share $92.91; annualized operating ROE +13.5%."We began 2013 with a very good first quarter result, driven by strong u…
I have been selling calls month after month for last 6 months in real money account.
It is a speculative buy with a potential that company may be bought out by some one. For that reason their is a decent amount of premium in selling calls. stock at 13.78 now and June 14 calls are selling for 68 cents and june 15calls are selling for 38 cents
This is good for speculative part of your portfolio. Speculative money per my rulesshould be less tha 10% of a portfolio.
Please do your own home work
Thanks for following me / my blogs - That gives me motivation to bring fresh trade ideas every week
I just want my followers to compare the steady stream of my blogs and closed trades over last 3 years
It compares to any stock picker service costing $99/ month or more
If one did their own home work along with my blogs or picks - you would have averaged 30% per year.
I spend 8 /10 hours a day trading / charting and following stock earnings flow
Choice is yours.
If a trade does not wor…
Wealth is created by producing some thing - does not matter what a nation produces
What are we producing - NAT gas which we can not export.
Industrial sector is in ruins - looking at the charts like GE, RBC, EME,
UTX has signaled top - along with KMB, CLX, CL, K, DID NOT PARTICIPATE IN LAST 5% OF RALLY
Are we using ATM like we used homes for borrowing 6 years ago? The broker will hand over check for 125% value of the home in 5 days or less
Every one felt pain of housing ATM IN LAST 5 …
$XLU is notparticipating inmarket advance and profit taking has set in its major components
$FE beat by 7 cents and stock is down few cents
I had turned bullish on XLU back in Jan 2013 and wrote few blogs on XLU component trades.
ETR was one of the weakest at that time due to overhang of Nuclear plants in NJ
It is also turning bearinsh
Please do your own home work
I am buying XLU put spreads just a small number to test the waters
Bought UPL with limit order for $20.07 SOLD MAY 20 CALL FOR 70 cents
Potential 2% in 15 days
Please do your own home work
If you were long - you would have enjoyed the day
Just be alert for any change in market direction - just use trailing stops with 3% from current price.
If you get taken out you will have a CHANCE TO GET BACK IN and buy same stock again or get another stock.
Just move the stop up wards - if market keeps going up
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May 23, 2013
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