Market rally, up about 3% for the week. I was caught net short on Monday, quickly reversing to net long. I end the week, up about 3% just like the market. One new long was selling puts on BURL Burlington Coat Factory. I added to longs in COST Costco, TGT Target, and some others. Retail is chock full of winners and losers. I will look at beaten down stocks such as M Macys in December when tax selling peaks.
Marketwatch.com has a feature article about September being the worst month. However, down 1 percent is the average loss, which is close to nothing. I deployed a bit of buying power this past week, but still have a healthy reserve. For SPY the main position is a ratio spread, long the atm calls, short multiples of the 10 delta otm calls. For the U.S. readers, have a nice long weekend.
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