Monthly Archives: July 2011

Market condition: pending debt resolution or the lack thereof.

Posted on July 31, 2011 by admin

Schaeffersresearch.com: debt ceiling resolution or the lack thereof is the trigger now.  The problem is that the market has not factored in the possibility of a default or a downgrade of US credit rating.  Should a default or credit rating … Continue reading →

Posted in Market Condition | 1 Comment

Lesson of FFIV

Posted on July 24, 2011 by admin

FFIV share prices recently dived from ~118 to ~100 after earnings report.  I am no saint and couldn’t predict this, but I was hedged.  FFIV fall in prices benefits me greatly.  I am net short of FFIV (I am net … Continue reading →

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Market Condition: near term: volatile, long term: bullish

Posted on July 24, 2011 by admin

Schaeffersresearch.com: very bullish long term.  They are predicting a year end rally. Chartadvisor.com: none available for this week. Vix: 17.52. Risk factors: obviously the debt ceiling issue is going to affect the market this week.  With both parties caring more … Continue reading →

Posted in Market Condition | 2 Comments

Market Condition: cautious -> bullish

Posted on July 15, 2011 by admin

ChartAdvisor.com thinks the markets are uncertain now.  It may continue upward to eventually break out or go downward to breakdown the June lows.  It asks for patience and caution. Schaefferesearch.com is, however, more bullish.  SP500 support 1295-1305.  Resistance: 1333-1340.  A higher … Continue reading →

Posted in Market Condition | 4 Comments

Roll up my FFIV calls.

Posted on July 13, 2011 by admin

I was short FFIV calls (in a covered call) expiring this Friday at strikes of $97.5 and $100.  With FFIV advancing to above $110, I have 2 choices: 1. to buy back to cover those short calls; 2.  to buy … Continue reading →

Posted in Today's Trade, Trading Strategy | 6 Comments

Roll up of covered calls

Posted on July 11, 2011 by admin

I have ITM FFIV calls that are due to expire this week.  This week’s weakness should be a good opportunity to roll up those calls to a later expiration date.  Reason: options with closer expiration dates increase or decrease in … Continue reading →

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Market outlook: long term: bullish, near term: bumpy.

Posted on July 11, 2011 by admin

Bernie Schaeffer’s montly Option Advisory Comment is my must read.  You can find this month’s here.  In summary, he is bullish for the remainder of this year. Monday Morning Outlook, and Chartadvisor.com. My advice: Monday’s market drop may be a good … Continue reading →

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Mt. Fuji, a peaceful retreat.

Posted on July 11, 2011 by admin

I am currently vacationing in Mt. Fuji, Japan.  It’s such a peaceful retreat.  Taken from the hotel balcony.  We are staying in 月秀峰 湖月Hotel，with private hot spring on the balcony looking out to Mt. Fuji and formal Japanese dinner.  The … Continue reading →

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