This coming Monday is Labor Day and historically we have a sell off this week with a Tuesday after Labor Day recovery equal to the downturn.. If the downturn sharpens Friday I might buy some 2-3x londs to sell Tuesday as well as add to existing positions and buying back some Civered Calls. Disclamor :The market seldom does what I think it will do:) No plan to buy anything until Friday and want touch a short or volatility ETF .
I just read a article that said the average household debt is $132K not counting the mortgage. My new house in SC will have a $900 annual tax bill, $50-$60 per month water-sewage, electric and gas averaging $70 per month and a $205 monthly HOA expense. If over 65 South Carolina has $100k property tax exemption and a $15k per person retirement income exemption. It's nice to be debt free and no pressure to get any return from this freaky market.
Bob, I only have a few small positions I consider trades (SJB, GILD and FTR) the FTR is the only Divy play and might bite me on the butt, the rest are longer term holds bought pretty low with Covered Call sold on a high. If something tanks I just add a few and close the Calls out to sell again higher. Holding mostly cash with low ball bids in case of flash crash.
Timing is not required to make a profit on a Call Option since it's written in. But best to buy shares in what you consider a low and sell the Call on what you consider a high. That said I don't do a buy-write.
Kel, Option Premiums are on the low side. Now seems a better time to buy Calls rather than sell them. That said I have not bought any since my cash position is so large.
It might be more correct to state , Ireland is preparing to fight a EU court order ordering claw backs on there tax gifts to international corporations.
Ock, Keep it simple and don't try overthink or out thinking this thing. Only buy what you are willing to hold when the price is right and keep plenty of cash. I like GILD and doubled down today . GILD is my best trader and I luckily added 1/2 cent off 52 wk low, which might be the high for the year , who knows? Pharma and oil is about all I'm interested in at present .
I sold all my Silver Dollars and high school class ring in 1979-1980. I have no interest in PM except for a occasional trade.
A good interest rate scare might provide a good buying opportunity for NRZ and REM. Not interested at current levels.
Inhirst, I was in ARR in May 2013 when MREIT tanked. ARR had a Strong Buy rating for a very long time as it lost 50% of its value then the rating changed to Strong Sell :) I just laugh at ratings. Your informed opinion is the only one that matters. Not at all sure any Divy play will work in September that why I will try only one and want let it get out of hand.
I added FTR yesturday at $.4.61 which gives me 4000 at $4.70. I would add one more time on a big drop. FTR seems like a good company even if it does not behave this cycle. I prefer it over BDC in this price range . But that is just my blind opinion. FTR is my only short term trade.