Thursday, July 11, 2013

Stopped out of SPY Puts

Market continued to rise with strong volume. Nasdaq rose over 1.29% at this time. It will constitute a 2nd confirmation day of the market uptrend if it still holds at the close time.

SPY also broke above my stop around $166. So I need to follow the plan to exit the trade. It's currently at a resistance level around $167. It has consolidated for around 7 weeks. If it pulls back, I may enter a bullish position trade on SPY after MFI reaches over 50.

I also adjusted my August option income portfolio, and should be able to post the adjustments tomorrow when I get the time.

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