Well folks it has been a long time since I posted here. Obviously, I got caught up in the EIGH mess and the drop in price of all the FLD's. I've also been very busy at work and have not had to much time to trade or do anything for that matter except provide for my family.
Right now, I am waiting for the market to reverse course. I firmly believe this is coming but obviously I can't say when. QID and FAZ may make really nice long term holds but for now, the market doesn't appear to be putting in a bottom so the bear funds are getting crushed. Holding FAZ overnight is also incredibly risky and not for the faint of heart due to the huge potential to gap up or down on any given day.
So while I wait, I'm holding some shares of Ford (F) and selling covered calls. My $17's are about to expire on Saturday and I'll be looking to reload the boat with either short term $17.50's or go for longer term $19's. So far, I have found selling options on long term positions to be a very nice way to make a bit of extra cash on the side and recoup losses. This is my first year doing this and so far, I have never been called out on a put or a call. Premiums have been nice addition to the cash stash.
I hope everyone who reads this has a happy and healthy Christmas. I know there is a lot of emotion tossed around especially when it comes to money and investments but regardless of your strategy, Merry Christmas. Remember the reason for the season and remember why we enjoy a coupe days off to spend time with family and friends.
I'l try and post a bit more on this board but since I am now a free member, 15 is all I get.
Have a great rest of the week foks!
JP1101
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