Sat, May 25, 2013, 12:45 PM EDT - U.S. Markets closed
So, I'm in long, but today's response to the war news (first up big, then back to neutral) makes it look like the market has completely discounted all the war events and outcomes. Good news is:S&P is at 882, up from 800, or 10%.DOW is at $29, up from $25, or 16%.Oil is down $10-12/bbl from the high.And it is old news.Bad news is:Economy is in the dumper.Jobs are tight.Rates can't go lower.Oil is unlikely to go lower.This may be as good as it gets, near term. Sit on the holdings or take profits?Your thoughts?tnr
At over $1.50 for Dow June $30 calls selling them covered by your shares looks like a good way to make money to me. Buy them back after earnings announcement at a few cents or let them expire in June & have your shares and some cash.