I sold covered call options at the money due Friday 1 July for half my stash. I sold covered call options at $24 for the other half, and will be called away this Friday for a total of $24.41
By the way, be wary of the traditional runup to the 4th of July. The Londoners copped our movie line "this is our Independence Day, but really, this is OUR Independence Day and we usually pop, which means silver may drop.
Well old farts in England, middle class, below and seniors have spoken,and kids under 50 are all upset because all they've known since 1986 is the new world order. For those who think this EU economic union stops wars and war crimes they've forgotten the massacre of about 20 years ago, Serbs and such, but hey, kumbayah.
Talk about piling on, Soros is talking gloom and doom to obtain more bargains from a system under seige already by HFT thumbs on the table. Greenspan is openly talking Black Swan, a sure indicator that this is a big nothing, since he couldn't tell if it was raining if he stood outside and looked up at the clouds.
Cramer like a stopped clock actually got it right, chill out and catch bargains. Another sky is falling non event in which the removal of England from the EU, as opposed to Scotland and Ireland, gets more action up front than a Fed rate hike (now off the table until the 22nd Century). Keeping rates low, uncertainty high, keeps the silver and gold trade in place, but oh nelly, watch as the market drops Monday another 4%, Tuesday morning 2%, and recovers one percent of that loss Tuesday afternoon.
If you're a trader, you dump half your silver related stash Tuesday morning the third time a high isn't breached. If the market gets bargain hunty in the afternoon, you may want to just watch for later to sell half, pop covered calls just in the money for the end of the week against the rest and kick back.
Smart guys say smart money is in small caps, they aren't exposed to overseas. Don't tell that to the Russell2000, rustled now down from a peak 1290 to about 1090ish since about February. I see dead people, and 999 in its future before folks say wait a minute.......
This is not a Lehman event. I laughed uproariously when a cute English news lady said that "as many as 1000 financial jobs would have to leave London and live and work in Paris." Maybe the English can trade them deodorant for toothpaste. That would work. Just saying.
Pop Monday as the market continues to overreact, watch Tuesday morning for market loss abatement, once to to up, twice to exceed top, fail, dump half, sell in the money covered calls due Friday the rest.
Sleep like a baby.
The solution is plexiglass where gators have no grip. That's the right answer, and state of the art 1955. this is not hard.
except the shorts of course, but Disney will do what it always does, pay a price for not dragging this through the courts. I wonder what it might do better to keep folks out of the water, fencing comes to mind. Signage does not.
The hell with signs where are the FENCES?
When they opened Disneyland in 1956, nothing worked, but kids if The Pirates of the Caribbean broke down, the pirates didn't eat the tourists.
Until they get those fences up, Jurassic Park provided more safety and look what happened there.
I'm waiting for Yellen to crush the market with rate hike drivel Friday.