Can You Hear Me Now?

Taking some action today in my long term portfolio. I'm selling puts on VZ.

MA

This morning I'm trying to get filled on a MA trade. Its a small trade that is made better with an adjustment. I am bullish on the credit cards, even though I think a pull back in the space is needed. The trade is working below the mid price of the spread, but I will be patient of a better fill.

Calendars are working very well today with some over due weakness, I am currently over all short deltas.

$RUT Idea

Weakness is great, it allows people to add at better prices or sell higher put premium. Since I love selling premium heres my trade.

I love shark week

Crude Oil Prices

Archer Daniels Midland

Today earnings came out on ADM and they missed the streets estimate. My thinking is that we see a pull back for a retest of the 200 day moving average. This is a trade idea only, but I will let you know if I pull the trigger.

Fill....

XOM

Trade idea XOM calendar 70 put Aug/Oct.

Recovery Killer.....??

Super Mario

1000.....

Well we made it, SP's finally hit the 1000 level. The real question is, whats next? Since July the market is up more then 14% with no real pull back or consolidation in price. For a healthy market we need profits to be taken, higher lows to be made and overbought conditions to fade. I think by mid week we could see profits start to come off the table, and people rushing for the exits. That is when I will be loading up for the next surge higher. My S&P target for year end is 1150, but there is still a small percentage that we head to 700.

I have not added any new positions for a while, my income portfolio is up about 3% for the month of Aug and we have barely started.

Pair Idea

SPY

Trade idea, SPY calendar.