Week 8 - Portfolio Review
February 24th, 2008. Posted by AppleOption
Two months or eight weeks since the start of 2008, the markets continued consolidation. We have been fluctuating in the range between 12,000 and 12,700 on the Dow since mid-January. This consolidation is good as we form a solid bottom before the next bullish move can occur. We are in a market cycle where it is time to take advantage of irrational panic and excessive pull backs by entering long-term trades.
Our performance for Week 8, Feburary 18th - 22nd.
Index Condor Portfolio
We were successful in picking up one new position this week, and so far it is off to a good start. We are positioned to make a maximum of 29% on the total capital risked between now and March expiration. We also attempted to pick-up a second position mid-week and were unsuccessful by one penny. It was almost a perfectly called the bottom, and the trade would have received a excellent credit. Looking forward to the last week of trading in February we will attempt to pick up one or two more positions for the month.
AppleOption Short-Term Portfolio (STP)
AppleOption called a perfect day trade on Tuesday the 19th. We executed a trade that resulted in a 24% gain. Then again on on Friday the 22nd, we initiated another trade at the day’s low before a strong rebound into the close of the trading day. The trade is positioned to easily gain 50% in the next week.
AppleOption Long-Term Portfolio (LTP)
There were no trades for this portfolio this week. We are nicely positioned for the long-term with Apple, and look to add some short term coverage this week.
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