The market finally caved in last Friday after a dismal outlook by GE. The major index continued to bounce off their resistance levels.
Out of my 4 credit spreads plays, 3 are out of the money and looking positive. The 4th credit spread was playing BBBY into earnings deep-in-the-money. BBBY guidance was bad. However, the market somehow push BBBY upwards even last Friday. My BBBY play is now negative. I shall see what happens next before making a decision on BBBY.
This week we will see a number of financial stocks releasing their earnings results. These stocks include WM, JPM, WFC, MER and SLM. The outcome could greatly impact on the market this week. I am still bearish in the sector.
PersianCat (Millionaire-in-progress)
Trade Like A Persian Cat reminds me that I should be like a Persian Cat, waiting for the right setup to trade and not act on impulse. This blog documents my trades, thoughts and reflections in playing Options in the US Market. "Bulls make money, Bears make money, Pigs Get Slaughtered, Cash is King"
Who Am I ?
Interesting Read
- Are You An Academician Or Practitioner?
- Are You Winning The Battle?
- Comic Strips
- Guidelines For Intraday Play
- How The Markets Really Work
- Jewish Holidays 2012
- Optionquest Online Game
- Play One contract only !!!
- The Average Investor Mentality
- The Market Cycle
- US Market Holidays 2012
- Who Are You Trading Against?
No comments:
Post a Comment