There was a nasty selloff in TLT but you can read “The Fly” to get a better interpretation.
RGLD and miners as a whole continue to be a beaten down sector. Optimism in the space fades to indecision and back again on an hourly basis. Such is the case when you’re tra la la-ing across the bottom. It’s scary, especially if you’re a political investor.
We had a huge range today in the S&P. That meant only one thing, opportunities. I continued trading the mini contract all session, mostly to the short side and then long again approaching the final half hour. It was by far my best performance in the index yet. All hail the memorial weekend!
After taking some paper trades in the AAPL weeklies over the weekend and seeing what type of beast it really is, I’ve dabbled in a very small way by purchasing some SNDK May week 5’s on the $57.50 strike. They’re really cheap, and it makes sense to risk the entire amount, essentially. Feel free to throw rotten tomatoes at my virgin attempt using options, I normally trade common. I’m a trial-by-fire learner so after I understood the risk, why not?
Other stock action included selling NXST. Fly popped into 12631 and sold a few low conviction names. If you read my reasoning behind NXST you could easily conclude my conviction level was low low low. Sold for a small scratch loss.
I also bought some NANO today. Nano technology is one of those things that promises so very much, like a politician. I did a PPT dig on all company profiles featuring “nano” and simply put I settled on NANO and UTEK.
I’ll be back around, same time same place, to gather some insight into the markets with these profiles in the morning.If you enjoy the content at iBankCoin, please follow us on Twitter