On The Road Again

I am on the road today so this will be the only post of the day. I sold the Goldman 140 puts for nearly $5. Goldman's sins seem priced into the stock and volatility is very high so I want to take advantage of it.

The first couple of days next week will be seasonally strong after which "Sell in may and go away" comes into effect. Many will point to last year as a reason not to sell in May, but the market was coming off of a record washout last year. The setup this year is a lot different. We are heading into this seasonally weak period with extreme positive sentiment and following a rally of epic proportions. Have a great weekend.

2 comments:

CP said...

Bill Miller likes GS. That should make you uncomfortable.

http://www.investmentnews.com/article/20100429/FREE/100429855

Anonymous said...

And of course the government will sell shares of C when it hits $1.