$SPY This week will be one of caution on my part I will
trade with the market direction and remain alert for changes in temperament
such as the one this morning brought on by the IBM disappointment. Today as a hedge I traded the .SPY141220C188 for a
modest profit Entering at $5.92 and exiting at $6.19. The remaining positions in the Alpha One Model portfolio trading up as well.
A significant percentage of the S & P 500 members will
be reporting earnings results this week so do not expect much to happen until
that trend is set. Trading volume appears
to be backing off a bit from the prior two weeks fear driven levels and the
internals are much more positive than we have seen in several weeks. We may be forming the bottom here, but again
it is fragile so remain alert.
I will be traveling for the period between the 23rd
and the 26th of the month so there will be no weekend update nor
will I be trading from the road. I will
have a limited ability to respond to email inquiries and questions and will do
my best to respond in a timely manner to your questions.
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