And while most everyone was waiting for Santa's rally, he QQQ closed the gap at 55 and I closed my long put that I opened above 557.
Ohhh a little satisfaction into this year end. 2011 wasn't good for my account, but i didn't go broke that's good. Have still huge residual firepower. :-)
Market continue with trading range, even if same leader stocks continue to lose strengh….that’s no good. I stay much aside now, and just try some income strategies because I think without QE3 this market has not much run to do. Waiting for Bernie to do something at beginning 2012.
QQQ has a gap below actual levels at around 53.70. That could be the second target for the short. I still wait for levels 52-50 to sell some puts or further signals. At the moment I don’t touch it.
I’m monitoring USO (ETF on crude oil) for some put selling. Ideally 34-35 level .
Silver ETf (SLV) is under my screen and I could try a put selling if price stabilize for some other day
I opened an income position on GM at the double bottom level. This Friday I sold a put @20 January. Just simple strategy: if GM rise I’ll gain. If it drop I’ll consider rolling into feb or mar the position. If the drop will be deep, I’ll stop it out