Stocks are churning along the 200 today. This comes as no surprise considering the move down that we have had. I added 26 shares to UPRO yesterday at $70.00 per share. No further actions will be taken today unless the 200 is broken – where stops are in place.

The market roared back to even from being down 185 points today. Fortunately, the call proved useful buying on the 200 day m.average. Look at how the 1 day chart of the S&P formed a cup and handle pattern (see “education / chart patterns”). Expect the market to continue following through on technical support. China is…

I wasn’t going to buy until the end of the day but now with the Dow down 180 points and at key support, I am going to step in and buy some call options here. You could buy the stocks themselves but I don’t feel comfortable with risking my hard earned cash just yet. With…

Thank God I bought such a small amount in the BAC calls yesterday. From the negative breadth action early on in the prior day’s trading, one could easily assume how today would turn out. It is May 23, 2012 but it is starting to feel like May 23, 2011 all over again with the Dow…

What good is this blog site if all I do is write? Still keeping the powder dry by only buying $100 worth of BAC calls. Getting my feet wet a little. If it drops below 7$, I will look to initiate a long-term position. The calls were so cheap I couldn’t resist and I was…

If you ever said to yourself that you wish you hadn’t missed out on the BAC move last summer- here is your chance for redemption. Before putting in a low of $5, BAC zoomed to $10 and caught a double. Why is it so cheap again? Profit taking was one issue I’m sure, but of…

The Dow has erased nearly all today’s gains. I do not think this is the chance to get in if you missed yesterday’s rally. The breadth of the overall market is weak with a good majority of growth stocks and cyclicals going into the negative. This is usually not a good sign. Investors should wait…

Stocks carry over their strength from Monday, as expected, with the Dow up nearly 100 points today. We expected the bounce to last a few days, but the question is, is this a tradable bounce where we can put more money to work in UPRO, TEX, FWLT, FCX, and WLL. While these stocks have definitely…

The market continued to rally throughout the day finishing strong. Selling calls on UPRO (S&P) seemed like a plausible strategy, (UPRO 69 Jun 16 calls are now going for 4.20 per contract – we would have received $420 for selling a call, instead of paying $420 to buy a call). I decided not to place…

Ok, today the market is higher because of extremely oversold conditions. The headlines will tell you that it was because of the Eurozones’s assuredness to keep Greece alive, again (what’s new!), but I say it’s because stocks got to cheap. They are getting to attractive buy points and now trade at discounts to their multiples….