S&P is in range-bound between 1300 and 1332 for a while. Technicals are not signalling if the market is consolidating for a move higher or ready to pull back. VIX is rising silently. Market is likely to pullback following week, if S&P doesn't cross the overhead resistance at 1332.
STX reported better than expected results after the market close. This position will lose. about 20% maximum, if the stock goes higher by 10%. Purposely, I entered into a long-term option contract to mitigate such a risk. Rollover is another option to still close the position with gain.
Portfolio is well-balanced and is in a position to cushion any market shock:
- 3 positions for flat market - STX, TXN, VIX
- 1 bullishing postion - CMI
- 1 bearish position - STJ
Let's be conscious of the market conditions and not be adventurous. Hope is not a game plan.
Updates to the "Last 10 trades" section of the blog will be made shortly.
No comments:
Post a Comment