I sold Dupont and Apple today for a 3.5% gain on each. I sold LULU in Jody's account for a 2% gain. I sold everything else except GOOG. Cash is a position also. The market has been so volatile lately. I then bought 2 January 2012 option contracts on AIG at a $45 strike price. It seems to have found support on its 200 day SMA and I have a year for this to pay off. I also bought the GLD at $131.01. When the market goes to hell, people tend to buy gold. The S&P dipped below its 20 day SMA. It was down 1.5%. With so much volatility, I may buy more long term options contracts or "leaps". You can limit your risk and maximize your gains if you know what you're doing. Today was awful. First AMZN gets crushed after earnings, and then the entire market gets hammered. Oh well, I feel better having sold most of my portfolio. Even if much of it was for a loss. I'm not gonna worry about it for a few days. I'll wait and see if the market can make up its mind as to which direction it want to go.
I'm sure tomorrow's scoreboard will look alot worse after this bloodbath.
The scoreboard after yesterday reads:
Jody's Roth IRA 8.25%
Ryan's Roth IRA 1.10%
10% Fund 0.60%
S&P 3.33%
No comments:
Post a Comment