Hope you all enjoyed the three part series on stock replacement. Here’s what started it all:
Most recent video from Cramer/Altucher
http://link.brightcove.com/services/link/bcpid1155328549/bctid1254124213
First video from Cramer/Altucher
http://link.brightcove.com/services/link/bcpid1155328549/bclid1111461880/bctid1224769899
And in case it gets lost in the blogosphere, here’s the link to the three part series
Introduction
The Plan
The Cycle
Good luck out there and have a great weekend!
For the second straight day, the markets have been taking a beating. My guess is that the sell off is partly to blame on options expiration this week. Financials have been sold off extra hard as a result of Citi’s (C) poor earnings report with profits down about 50+%. Tonight, United Technologies (UTX) will report. My first instinct is that UTX will handily beat out their estimates and perhaps give the Dow a boost tomorrow morning. I just hope we’re selling off because of options this week. We’re back under 14,000 so once things begin to settle down, I’ll be bargain hunting. My portfolio’s taken a sizable hit as well but I’m to blame. Unless you’re the likes of Warren Buffett or Carl Icahn, you’re not Superman.
Somehow, through the use of options, I have doubled my initial investment in 4 months. Yes, turning $2,000 into $4,000 isn’t a huge increase in terms of actual numbers but I’ll be hard pressed not to accept it and take my fiancee out for a nice evening on the town!
The tech sector has really been hitting its stride and as a result of not diversifying and playing dangerously, my results were amazing. However, I’ll be quick to point out things could have gone sour in a hurry. For now I’ll be locking in more profits as the coming options expiration week approaches. Some of the expiring calls may be rolled forward (rolling forward refers to taking an option that expires in month X, closing that option out, and purchasing a new one in a future month Y at the same strike) to November in anticipation of the earning season.