Sunday, May 28, 2017

Weekly: Bull market

As I often do for Memorial day, here is a link to Trace Adkins song "Arlington" (link1). Take a moment to remember the sacrifices made for this country.

I attended a CANSLIM Investors Business Weekly meetup. The presenters were bullish. At this point, the market and many leading stocks are extended, but this is what a bull market looks like. Many big names such as AAPL, FB, GOOG are up 15% or more since January 1. MCD is another leader. A person can learn a lot by observing (vs. predicting).
 
So I skewed slightly bullish this week. I added to some longs, took a few new positions (BBY, ULTA). Here are the trades (p = puts, c = calls, sell means sell-to-open, number near end is price per contract):

Mon sell NVDA Jun 118 p 38
Sell BA Jun 167.5 36

Sell LMT Jun 260 p 65
Sell BRKB Jun 160 p 52

Sell SPG Jul 135 p 65
Sell BA Jul 160 p 47 second layer today

Tue Sell BRKB Jul 155 p 67

Thu Sell MCD Jul 135 p 34
Sell FB Jun 140 p 19

Fri new positions in ULTA and BBY
Sell TSLA Jun 275 p 64
 
Sell BBY Jul 50 p 26
Sell NVDA Jun 125 p 46

Sell ULTA unbalanced strangle: 
Sell ULTA Jul 260 p 71
Sell ULTA Jun 320 c 54

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