Weekends

Heading into the weekend = Options Time decay. My RUT and SPY trades are looking good. Not much happening this week. I did have an XLE iron condor that was run over on a 52 week high breakout. I rolled the bottom up and added twice as many lower spreads along the way. This certainly helped out in taking a much smaller loss.

Tonight Matt held an online meeting as Nicholas's baseball team had a team to beat as Ernie or I couldn't make it tonight! Sounds like I missed a great meeting.. Below are notes Matt posted to our Yahoo group. Thanks Matt!


"Below is a list of topics that we discussed during the online group meeting tonight. Please feel free to ask any questions that you may have.

Tickers:
MOO - Agricultural ETF (Tracks stocks like POT, MOS, etc.)

XME - Metals and Mining ETF

POT - Not a whole lot to say about this one other than it's bullish and earnings are coming up. The 190/185 Bull/Put Vertical has a nice credit if it can stay above these levels (I'm personally expecting a pullback before earnings).

CAM - Looking for a pull back; bumping up against resistance at 50; earnings coming up.

FWLT - Shorting opportunity; 64 appears to be good resistence

FLR - Shorting opportunity? A pullback could be in order and there are visible signs of divergence with the MACD (higher high's on less momentum; 160 is resistence

TSN - Broken above 200 MA on good volume. Today's action was extremely bullish with BIG volume and BIG white candle. Also, thanks to Terry, he pointed out that it's resting SMACK-DAB on 50% Fib line from the swing high of June 07 to the swing low of Jan. 08...Will it keep going?

$VIX - Last but not least....what's this thing going to do? I personally have it breaking below the uptrending support line and resting on a horizontal support line at ~20.35 (today's low). You can argue that MACD is getting weaker and this thing is going lower (divergence).


So where we go from here who knows, just manage your risk; Plan your trades and trade your plans..."