Friday, November 10, 2006

Stock Market Nov. 10 looking forward

I am still in the OEX 640 puts with a cost of $1.50 and currently bidding $1.80.
The puts have been as high as $2.80 in the past couple of days.

It was not my intent to still own them over the weekend due to expiration Friday being Nov. 17. They will start to drop in value unless the market goes down.

Plenty of econ news due out Tues...very little Monday. I really don't have a prediction for Monday. (hoping a little down movement..but that is a hope and not a guess.... :) )


Blogger meblogin said...

I have been reading a little more and believe that Monday will be flat to down. (mainly due to lack of new data)

November 10, 2006 at 9:07 PM  
Blogger bubba said...

What do you expect as news on Tuesday?

November 11, 2006 at 7:23 PM  
Blogger meblogin said...

Hi Bubba,

I am hoping to be out my puts sometime Monday.

Tuesday....I think will be some positive and some negative data.

Here is what is coming---
Nov 13 14:00 Treasury Budget

Nov 14 08:30 Retail Sales

Nov 14 08:30 Retail Sales ex-auto

Nov 14 08:30 PPI

Nov 14 08:30 Core PPI

Nov 14 10:00 Business Inventories

retail sales should recover a little due to the drop in oil
PPI---think will hold about average
Bus. Inventory is normally ignored...but with a potentially topping market...might carry more punch.

I am "hoping" to see profit taking Monday and be out of my puts. My confidence is not very high in either direction. It has surprised me to not see more selling with the Dems taking house and senate.

I believe that we are due for a correction just based on the present values.

How about you?

November 11, 2006 at 9:57 PM  
Blogger bubba said...

I currently have only one stock holding, but I don't actually control it (yet....it's a significant stake in ETR, and it's a looooong story).

The major part of my investments are in different funds (now weighted toward Value and Overseas) and bonds.

I'm not making any major move at this point.

I may change my mind next spring.

November 12, 2006 at 8:25 PM  
Blogger meblogin said...

OUCH...held to long...back to luck again. Market rallied later today.

November 14, 2006 at 7:47 PM  
Blogger meblogin said...

oh well...business first...options 2nd..got stomped today.

November 15, 2006 at 9:06 PM  
Blogger meblogin said...

Options expiration....stomped in the dirt and left for dead...smile

November 17, 2006 at 8:35 PM  

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