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Ben gets reappointed as the President says the U.S. needs him to continue to do the work he’s been doing. Listened to the speech and it was really the only choice the president had. Market will take it as minor positive. Switching would probably have been seen as a major negative as the market detests [...]
No economic news releases today and not much news in energy land. Asian markets were strong from the beginning and U.S. futures for lack of direction are up slightly. The following housekeeping watches were included in the wrap over the weekend but are worth repeating as I’m doing a bit of pre-Fall cleaning. Housekeeping Watch: [...]
Housekeeping Watch #1: Goodbye $10KP; Hello $10KP II and ZLT. The $10KP went out at $21.5K (after a $4K infusion midway through its life). The S&P was up 18.6% during this same time frame (October 15, 2008 through August 21, 2009). With this expiration I have decided to close the $10KP and start with another [...]
We get existing home sales at 10 am (5.0 mm expected for July vs 4.89 mm in June) but the real watch object of the day will be Bernanke’s speech later today (one of his last?) from Jackson Hole, Wyoming. Jackson Hole is a nice place, so I guess it makes sense the Fed flew [...]
In Today’s Post: Holdings Watch Commodity Watch Natural Gas Preview EIA Oil Inventory Review Stuff We Care About Today – KOG Odds & Ends Holdings Watch: $10KP: $18,800 54% Cash The wiki tab has been updated. Yesterday’s Trades: EOG – Added (9, also a part fill) EOG August $75 calls (EOGHO) for $0.35 [...]
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