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Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.
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Second Day
I had a little better luck finding some covered call opportunities... at least it felt like "better luck" as I only broke even on the day. I would have been up if not for a market slowdown in the last half hour. However. I am confident my positions will rebound in the coming days.
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Disclosure: I am long UNXL, SCTY.
Additional disclosure: covered calls on both positions.
On The Eve Of Becoming A Market Pro
So here I am, like a golfer full of euphoria waiting to tee off on the first hole, not knowing how my new venture will start out... Will I get a birdie or maybe a quad bogey? Who knows, but I can feel the excitement. The innocence is still alive. [More]
Sector Analysis December 2, 2012
Last week ended turned out to be very bullish, primarily due to rumors of fiscal cliff compromises so it was a good thing that most of the sector plays were sidelined. This week is very difficult to read, primarily due to the major move upward in all the sectors. Whether this movement can continue without stalling remains to be seen.
ETF Symbol: IYW
(click to enlarge)
DJ US Technology - I'm really sticking my neck out with this reading. There was a breakout from a descending channel similar to US Telecom (IYZ) but it appears that for US Technology there is limited upside potential. And unlike Telecom, IYW is still below the 200 day Simple Moving Average (SMA). Look for the price to fall down to the upper trend line of the descending channel. Place a protective stop at $72.25.
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