SSO June Calls Reentry
May
5
Written by:
5/5/2009 3:20 PM
SSO June Calls Reentry
I sold my Ultra S&P 500 Proshares (SSO) 24 Calls yesterday figuring I had made a decent 29% return over a two week period and I would get a good reentry point when the market corrected slightly. But with the SSO down 2% at it's lowest point today the Calls where still at the level I sold them yesterday. I think the market is not expecting much of a pull back at this time.
SSO And Ashland Inc. (ASH)
I am still holding SSO shares so my bias is positive but not as bullish as I was when holding the call options. I took a look at a number of stocks today looking for a decent stock position to take but overall earnings are not very good and not expected to be very good soon. I like Ashland Inc, the owners of Valvoline, as the stock rallied after a recent earnings report where it reported 85 cents with analyst only expected 30 cents. But it is ahead of itself at this time from the analysis that I did.
(c) 2009 FastSwings.com
2 comment(s) so far...
Re: SSO June Calls Reentry
There's a good chance that if the S&P 500 closes below 902.00 today that I will close out my SSO positions altogether. I see a top in the recent market formation.
By Steve on
5/12/2009 9:53 AM
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Re: SSO June Calls Reentry
You are so right!,Very nice of you to share the tips with us :)
The point where, planning the size of furniture is pretty important
By forex on
6/6/2009 6:38 PM
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