Friday, August 17, 2012

6-1 for August grade B

For the August option cycle, I count six winners, one loser, and give myself an overall grade of B. The lone loser was one side of a LGF short strangle. Had I waited it out, it would have come in okay, though the drawdown would have been scary. Winners included short puts and calls on LGF and IWM. Seven is fewer closed trades than usual and that is due to my vacation. I added a new Philosophy page that has my grades at the bottom (link) and can also be accessed by the tab on the header, next to the word "Home." I also added a First Time Readers page (link2).

Going forward, I am still looking for a stock market trading range. LGF Lions Gate has the movie Expendables II opening today. Gold looks to be a bit too popular in the short term, what with articles citing big buys by George Soros and others. Bonds are perplexing. I outlined my long term view of a parabolic up move followed by a crash, but this doesn't help that much with the short term.

Net long LGF SPY
Net neutral IWM XRT

AMGN Amgen
BRKB Berkshire Hathaway
ESRX Express Scripts
EWG German stock ETF
IWM Russell 2000 ETF
KFT Kraft Foods
LGF Lions Gate Entertainment
SPY S&P 500 stock ETF
XRT retail stock ETF
* ETF = exchange traded fund

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