Friday, September 17, 2010

It's September...Do you know where your Lazy Trader is?

Holy Extended Vacation! Where in the world has the Lazy Trader gone? I have been working my regular job, trading a little with ETF's and testing some new strategies that show some promise both long and short and using some sideways action in  $IWM to do some credit spreads.

Up until this point my trading has been position based over a medium time frame (1 week to 3 months). My Lazy Trader mantra has been to have a life outside the computer screen while still making some decent returns. Everyone will agree that this market has been fueled by enthusiasm not good fundamentals. I believe that we are still due for a drop below 9500 in the Dow in the near term. The recent run up from the lows in August are looking a little overbought. With today being expiration day (Quad at that!) I'll be looking at a October 66/70 credit call spread at 1.23. We'll see how it plays out over the next couple of weeks.

No comments: