In an effort to modernize the Wednesday Update and make it more responsive to daily changes in thoughts, we are moving to a blog. The intention is to make tracking both ideas and trades easier. Please include your thoughts and ideas so we can share them with all of our readers.
Tonight's thoughts are about INTC and YHOO, both of which reported earnings and they were basically higher than expected so both stocks moved quite a bit higher in after hours trading. We felt that the break in the market last week could possibly create an oversold condition and apparently it has. The market rallied today and pushed up more this evening with the announcements from several companies. The ones we are really interested in are INTC and YHOO. Since we have a lot of puts in these positions, we probably should have taken the time to unload them for this quick up move but we didn't.
Tomorrow's Update will be more explicit on what we will be doing but for tonight, we must learn to be more nimble in our trades, especially in short type investments. The Update has tried to maintain a weekly trading standard that has been modified somewhat recently with Alerts. We need to take full advantage of severe moves in the market, especially when we own puts.