Friday, January 16, 2009
Pay Day!!
Thursday was the last full trading day of the SPX Jan Options and with the SPX finishing up at 843.74 (some 147 points from our short strike) I am declaring our latest play yet another winner!!
This was a great play to start the New Year!! No stress and lots of profits.
Anyway back to the markets Thursday and the major indicies did bounce off their morning lows to finish slightly positive. The Dow gained 12.35 on the session to close at 8,212.49. The SPX added 1.12 points to finish the session at 843.74.
There was lots of bad news (again) in the Financial sector with Citigroup (C) once again leading the declines.
However traders thought they saw support once the Dow hit 8000 and the bulls stepped in.
It will be interesting to see what happens today with the options expiration and the weekend looming.
Until next time.
This was a great play to start the New Year!! No stress and lots of profits.
Anyway back to the markets Thursday and the major indicies did bounce off their morning lows to finish slightly positive. The Dow gained 12.35 on the session to close at 8,212.49. The SPX added 1.12 points to finish the session at 843.74.
There was lots of bad news (again) in the Financial sector with Citigroup (C) once again leading the declines.
However traders thought they saw support once the Dow hit 8000 and the bulls stepped in.
It will be interesting to see what happens today with the options expiration and the weekend looming.
Until next time.
# posted by Paul @ 5:11 AM 
