arthur
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 Posted: Sat Aug 28, 2004 9:13 am Post subject: Next Week Trading Plan (Aug 28th) |
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Next Week Trading Plan (Aug 28th):
The Oscillators (see Chart Room bottom of page one) suggest the market is near a top. Also, SPX closed at about 1,108 between it's 50 and 200 day MAs (i.e. 1,104 and 1,111). Moreover, the market rallied on light volume recently, which tends to be bearish. However, the intermediate-term indicators (see Chart Room page two) are bullish. So, I plan to buy short-term puts on bounces and buy long-term calls on dips (see Top Stock Picks section). EBAY and the Semis, e.g. SMH and INTC, may be leading indicators on market direction. The Semis are still beaten down. So, I plan to buy SMH and INTC long-term calls on dips.
My portfolio is about $895,000 including over $730,000 in cash.
Calls Contracts
SMH Jan 30 2005 100
INTC Jan 22.5 2005 100
RMBS Jan 10 2005 10
PSFT Oct 17.5 2004 100
Puts Contracts
DIA Sep 102 2004 100
QQQ Oct 35 2004 300
OIH Sep 75 2004 50
OIH Jan 80 2005 10
EBAY Sep 85 2004 40
EBAY Sep 90 2004 20
PSFT Oct 17.5 2004 10
Portfolio at $500,000 on Jul 1st, 2003 |
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