Tuesday, 19 October 2004
The market showed some strength on Monday after Friday's options expiry date.
Volatility index (VXO) has gone up to 16 on Friday and we are quite comfortable at this level to initiate call position or go long on certain stocks.
QQQ is also staying above the moving average 200-day and it is a welcome sign.
Intel closed above $20 and my put was not exercised last month. The entire premium of $70 is collected. I will sell Intel put again after US election.
RIMM (Research In Motion), the maker of BlackBerry has reached a dizzling level of $88. If it ever goes to $95 or $100, it is a good candidate to buy put. This stock is extremely volatile, and please do not try it if you have no experience trading a $80 stock.
Good luck.
ChingSun
90231976
Day Trader and Options Strategist
Traderhomes
The information provided above is for knowledge sharing only. Traderhomes is not responsible for any loss incurred if the market goes against your positions.