I
add to my long position by selling BA Apr 72.5 puts @81.7
Boeing
breaking out to new highs from a year-long chart base. There are
multiple chart support levels. The calendar indicates a good chance
for a sharp and quick stock market pullback in late March. Boeing is
the kind of stock I would like to get more of on such a pullback.
I
also add SPY longs via selling SPY Apr 140 puts @154.9. The gap at
142 to 144, I see as strong chart support.
I
had coffee with some friends and one of them talked about a stock
market bubble with no fundamentals to back it. Yesterday, I talked to
another friend. He has been invested in various individual stocks all
his adult life. This second friend talked about selling all his
stocks, moving to cash and staying there. These kind of stories are
not signs of a market top. A short pullback is in the seasonal cards,
but it will likely be met by buyers. There was a talking head from a discount
brokerage on TV, saying that customer accounts are still heavy in
cash.
Separately, there are reports of investors buying stuff like
SPLV, a low volatility index ETF that declines less when the market goes
down. While all these anecdotes are not data, they do influence my decision making.
Long
BA BRKB IWM LGF MON PG QCOM SPY
Net
neutral APC KORS
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