I haven’t been bloggin lately like I want to mainly because I been sick for the last week or so. I just can’t seem to get rid of this cold. It’s just been lingering around as the worst seems to be over. But anyway, I still been trading. Just not as much. When it’s time to blog my activity, I just get tired as trading this market has been hard the last few weeks.
To me it seems where stuck. The market wants to go higher but can’t. I think two things. The market is afraid of Dow 10,000 and unemployment. If the unemployment numbers come out better than expected this Friday, then Dow 10,000 will be in the books. If it is worst, put on your seatbelts for the ride down. If it’s as expected. I think it will be a slow grind to the upside as we will have to wait on 3rd quarter numbers to push us higher.
Right now my current positions are AAPL, CME, FAS, LVS, SPY(short), WLT. I’ve been unsuccessfully swing trading in and out on AIG and recently stopped out of CIEN. My goal right now although I don’t really show it, is to keep it short and simple. And that is to just be long AAPL right now and keep my covered Straddle on FAS. These have been winning trades for me for months now. I’ll will try not to take on no more than 2 additional trades. One of which is CME. This stock is on the verge of breaking out after moving sideways for months as it struggles to make higher highs. This stock has a lot of room to the upside. Current support for this stock is 290. I got in at 294. If it breaks below this, I am out.
