Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

GM- trade close

|Includes: General Motors Company (GM), MSFT, QQQ

Just a quick update because time is demanding.
This week I bought-to-close the GM put I sold earlier. I preferred not to wait until expiration and take the profit now. Not bad. 2012 began well.

Now I am 100% cash in the options account waiting to understand if the recent rise of indexes is a new bull or a bull trap.
I am monitoring the behavior of QQQ and Microsoft. Both have a gap at lower levels and I am waiting for a short term reversal signal to eventually try a long put.
On QQQ I ideally would like to have a signal around 59 and on MSFT I'd like around 30. On the latter, the optimal would be MSFT that rise above April high and return below.