Two blogs for a day is a bit exceptional but as I said I'm on vacation, although still working a bit. You know that I have been betting for a year-end rally for a few weeks now. However, the European striking debt mess has derailed the market quite significantly in the past week or so. Apparently I'm not so certain now as I was a couple of weeks ago but I'm still betting for that. We still have about 10 days to go to close this year. My gut feeling is that the overall market in the remaining days will be largely bullish, although I do understand this market is very much driven by the headlines, especially those related to the EU debt problems. The risk is quite high. However, the extreme bearishness last week just didn't sound right for me and I'd like to add more bullish positions from a lower level. So I bought more SSO calls yesterday as shown below (upper portion). Not a bad timing as it jumped up over 40% just one day. Plus my previous SSO calls in late Nov (lower portion), not a shabby profit for just a few weeks I guess.
| | 5.85 | 1.85 | 46.25% | $555.00 | 3 | $4.00 | $539.97 | 44.44% | $1,755.00 | |
| 12/19/2011 | | 5.85 | 1.85 | 46.25% | $555.00 | 3 | $4.00 | $539.97 | 44.44% | $1,755.00 |
| | 7.80 | 0.70 | 9.86% | $1,075.00* | 5 | $5.75 | $1,361.44* | 47.13%* | $4,250.00* | |
| 11/23/2011 | | 7.80 | 0.70 | 9.86% | $1,075.00* | 5 | $5.75 | $1,361.44* | 47.13%* | $4,250.00* |
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