Jim, the indexes might break down after the first of the month, so I have been playing those index positions from my last post, taking profit when there is one, and rebuilding on up-moves, like today in the NDX. Unless we get another surprise from Greenspan & company, I think we go sideways to down until the next scheduled meeting.
Take XOXO, which I have played long & short off & on since it was $15 or so, they lose something like $430 million, but hey, they get funding for a few more years, so the stock makes a run. It is all too much fun, almost like playing blackjack.
I may be wrong on those LU puts, it just doesn't want to break-down like I thought it would. I'll give them a few more weeks to work.
One closed-end fund (what the hell is that?) I own, GUT, may be of interest for those that want to play the utility biz. |
