Sunday, August 23, 2009

Day 10, $20,175

Markets had a big up move today based on better than expected Existing Home Sales.

Dow - 9,506 +1.67%
Nasdaq - 2,021 +1.59%
S&P 500 - 1,026 +1.86%

Why hasn't my account moved?

Well, let's take a look at my positions:

NYX - 27.93 +0.18% (Slightly bearish to stagnant since Day 1 and I own 200 shares- will consider adjusting to best match trend.)

DRYS - 6.02 +2.03% (Also no positive momentum, but no adjustment to Jan 2010 Naked Put - will let time decay do its thing.)

NTES - 42.50 +1.82% (Bearish momentum play based on earnings. Has found traction and moved above $42. Trade closed on expiration Friday for a profit. More to come on this trade.)

I will be doing my due diligence for upcoming trades.

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